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- November 14, 202619°
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- USD50.26+0.06%
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- INTEREST36.00%-1.00
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- November 14, 202619°
Alta Bank collapse in Serbia hits Russians as owner is detained
Serbian police detained Alta Bank owner Davor Macura on suspicion of removing more than €380 million in cash from the vault. The National Bank of Serbia had previously revoked the bank’s license; many of its clients were Russian citizens.
Serbian police detained Alta Bank owner Davor Macura and two bank employees on suspicion of illegally removing cash from the vault. Investigators put the amount at around 45 billion dinars, or more than €380 million, Financial Times reports.
Prosecutors allege that the bank’s treasury director and another employee either handed Macura their access cards or escorted him into the vault without the required authorization.
License revoked
The National Bank of Serbia revoked Alta Bank’s license on Saturday, citing financial difficulties and a lack of liquidity after customers, many of them Russian citizens, made mass withdrawals and millions of euros were taken out of the country. Earlier, the regulator also revoked the group Alta’s currency-exchange license.
The bank was popular among Russians who moved to Serbia after 2022. Its closure froze the savings and salaries of many of them, while small-business owners were left without access to their accounts. The case became one of the first in an anticorruption campaign launched in Serbia after the change of government.
Photo: Wikimedia Commons (CC BY-SA 3.0 rs, CC BY-SA 4.0; archive)
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