Macedonian Stock Exchange places Alta Bank AD Bitola on watchlist

The Macedonian Stock Exchange has placed Alta Bank AD Bitola on its watchlist following recent developments at the lender, the Exchange's Board of Directors announced today.

The move was taken under Article 61-a of the Rules for Listing and, the Exchange said, aims to draw the attention of the investing public to the bank's situation.

The decision follows action by the central bank: the National Bank of North Macedonia introduced a temporary administration in Alta Bank AD Bitola, announcing that the measure will remain in place until a change of the bank's ownership.

Background and ownership

Authorities in Serbia earlier revoked the licence of Alta Bank AD Belgrade — the majority owner of Alta Bank AD Bitola — citing a significant deterioration in the lender's financial condition and a risk of further liquidity deterioration. That development prompted the central bank in North Macedonia to act because of the ownership link.

Client restrictions

• Individuals face a weekly limit of 10,000 denars for cash withdrawals and card payments.
• Internal transfers to other individuals and legal entities within the bank remain unlimited.
• Legal entities may perform unlimited internal transfers inside the bank but cannot transfer funds to other banks nor withdraw cash from ATMs or teller counters.
• Borrowers are required to continue meeting their obligations to the bank on time.

The Exchange said its listing-rule action is intended to keep investors informed while the temporary administration and ownership issues are resolved.

Photo: press material from the event