National Bank places Alta Bank AD Bitola under temporary administration
The National Bank installed temporary managers and imposed a 10,000-denar weekly cap for individuals to protect depositors.
The Executive Board of the National Bank of the Republic of North Macedonia has placed Alta Bank AD Bitola under temporary administration, transferring day-to-day management to officials appointed by the central bank.
Safeguard measure and limits
The central bank said the move is intended to protect the property and interests of the bank's depositors. As part of the measures, certain restrictions on payments from client accounts will apply during the administration period.
For individual customers, a weekly withdrawal cap of 10,000 denars has been set; the central bank explained that the amount was chosen taking into account the average wage in the country.
Authorities reported that until yesterday roughly two million euros had been withdrawn from the bank. At the same time, there are interested buyers for the bank's shares from both domestic and foreign parties.
The National Bank appealed to the public and media to refrain from speculative or inflammatory statements so as not to create additional concern among citizens, and urged clients with loan obligations to continue servicing their instalments on time.
The developments at Alta Bank AD Bitola follow the revocation of the operating licence for Alta Bank AD Belgrade by the National Bank of Serbia; Alta Bank AD Belgrade is the majority owner of the Macedonian lender.
Photo: press material from the event
