Banka Poštanska štedionica to disburse insured deposits for ALTA banka clients

Banka Poštanska štedionica has been named the paying bank for insured deposits of ALTA banka customers in Serbia after the commercial court in Belgrade opened bankruptcy proceedings. The Agency for Deposit Insurance announced the selection and informed savers and businesses about how they will be able to receive their funds.

Eligible for payment are natural persons, entrepreneurs and micro, small and medium legal entities that held deposits at ALTA banka. Deposit insurance covers amounts up to a maximum of 50,000 euros per depositor, regardless of how many accounts the depositor held at the bank.

How the payout will work

The Agency for Deposit Insurance decided that Banka Poštanska štedionica will act as the disbursing bank and has also been appointed bankruptcy manager for ALTA banka. The Agency said it will publish the exact start date for payouts and the list of branches where customers can collect their money no later than Friday, 6 November on its official website, and will provide additional details via the media.

Payments will follow the currency of the original deposits: dinar deposits will be paid in Serbian dinars and foreign-currency deposits will be paid in euros, in line with the rules of the deposit insurance system. The Agency is legally required to begin paying insured amounts within seven working days from the day bankruptcy proceedings are opened.

The insured ceiling of 50,000 euros is calculated per depositor at the same bank, not per account. For example, if a client held a total of 30,000 euros across multiple accounts, that entire amount would be covered by insurance provided it meets the legal criteria; if total deposits exceed 50,000 euros the insured portion will be paid, while remaining funds will be handled according to bankruptcy rules.

The Agency also assured that the Deposit Insurance Fund has sufficient financial resources to cover all insured amounts belonging to ALTA banka depositors and that it has mobilized its operational capacity to carry out payments promptly. The timing and locations for payouts remain the most important immediate information for affected customers.

Photo: press material from the event