Serbian Bank Alta Closes After License Revoked

In Serbia, the license of Alta, a bank popular among Russian emigrants, was revoked; in Argentina, the Galicia bank began closing accounts of Russians. The National Bank of Serbia revoked the license of one of the country's largest banks, Alta.

Consensus

The National Bank of Serbia revoked the license of Alta Banka.
The bank's financial condition had significantly deteriorated, posing a risk to depositors.
The National Bank of Serbia stated that the license revocation was preceded by control measures aimed at improving the bank's liquidity.
Insured deposits up to €50,000 are guaranteed per client, with payouts to begin within seven working days.
The bank has suspended card operations and transfers.
Alta Banka has entered bankruptcy proceedings.
The National Bank of Serbia appointed the Deposit Insurance Agency as the bankruptcy administrator.
The bank's owner, Davor Matuša, is described by multiple sources as close to the Serbian Progressive Party and the former president Alexander Vučić.
The license revocation occurred shortly after the Serbian Progressive Party's defeat in the parliamentary elections on 25 October.
The bank was popular among Russian migrants and was one of the few institutions allowing Russian nationals to open accounts.

Points of divergence

Four deputy governors of the National Bank of Serbia filed a complaint with the prosecutor's office regarding the license revocation. — tg_currenttime
Srdjan Milivojević, leader of the Democratic Party of Serbia, filed a complaint with the prosecutor over a suspicious €50 million transaction involving Alta Banka. — tg_currenttime
The owner of Alta Banka, Davor Matuša, was described as close to the Vučić brothers and allegedly a front for their financial operations. — tg_currenttime
The National Bank of Serbia's decision was motivated by the need to preserve financial system stability. — tg_astrapress
On 9 October, Srdjan Milivojević filed a complaint with the prosecutor about a €50 million transfer from Alta Banka. — tg_astrapress
On 10 October, a representative of the SDSM in North Macedonia claimed that over €50 million was transferred to the bank's North Macedonian branch, possibly to Russia. — tg_astrapress
The National Bank of Serbia announced the license revocation on the night of Friday to Saturday, five days after Vučić's electoral defeat. — thebell
Alta Banka had 56,400 private clients at the end of 2025, with a 40% increase in clients and funds rising from 96 to 154 billion dinars (approx. €1.3 billion) in 2025. — thebell
The bank's assets were transferred to Moscow and Skopje starting 26 October, according to lawyer Ivan Ničić. — thebell
The National Bank of Serbia did not all agree with the decision to revoke the license; four deputy governors filed a complaint with the prosecutor. — meduza
The bank was at the center of a political scandal two days before the license revocation due to a suspected €50 million transfer. — tg_theinsider
A U.S. congressman requested that the U.S. Congress consider sanctions against Davor Matuša due to alleged ties with Vučić's inner circle. — tg_theinsider

Coverage (13 sources)

Serbian ALTA bank, which actively worked with Russians and, according to media reports, was linked to Alexander Vucic's circle, li... — ASTRA
License revoked for bank close to Vucic where Russians opened accounts — The Moscow Times
In Serbia, a bank popular among Russians is closing — РИАМО
License revoked for Alta, one of Serbia's largest banks, in Serbia. Its owner is considered close to former president Al... — Настоящее Время
Serbian ALTA bank, which actively worked with Russians and, according to media reports, was linked to Alexander Vucic's circle, li... — ASTRA
Serbian National Bank withdrew license from Alta Banka five days after Vucic's election defeat, where Russians opened accounts — The Bell
License revoked for popular among Russian emigrants bank Alta in Serbia, Galicia bank in Argentina begins closing accounts... — Дождь (Telegram)
License withdrawn from bank Alta, popular among Russians in Serbia — Meduza
In Serbia, major bank ALTA had license revoked — Вести
Alta Banka license withdrawn in Serbia among popular Russian relocants. Recently it became the center of political... — The Insider
License withdrawn from bank Alta in Serbia — Коммерсантъ
Serbian National Bank Revoked License from Popular Among Emigrants Alta Banka — ЭХО / Новости
License revoked for ALTA banka, popular among Russians in Serbia — Новая газета Европа

Serbian Bank Alta Closes After License Revoked

Consensus

Points of divergence

Coverage (13 sources)

Key entities

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