 |
The decision was announced on Saturday, October 31, just six days after the early parliamentary elections in which the Student List secured an absolute majority, winning 141 of the 250 seats, compared with 103 for the SNS, according to the latest projections from the election commission.
The National Bank of Serbia said the licence was revoked “to protect depositors’ interests and preserve the stability of the financial system.”
“The bank’s financial position has deteriorated significantly in the recent period, and there is a risk of further deterioration in its financial condition or liquidity,” the central bank stated.
Alta Banka and Its Reported Links to the SNS
According to several Serbian media outlets, Alta Banka is owned and led by businessman Davor Macura, who is reportedly close to the SNS.
The Serbian weekly Vreme described the bank's rapid growth in recent years as an “economic miracle”, which it said was often attributed to the institution’s close ties with the ruling party.
In July 2025, the student movement had strongly criticised the authorities’ decision to entrust Alta Banka with managing electricity bill payments nationwide.
Despite the attention surrounding the decision, Alta Banka holds a market share of approximately 3% and is not among Serbia’s largest banking institutions.
The central bank’s announcement cited the bank’s deteriorating financial condition and potential liquidity risks as the reasons for withdrawing its licence. The reported political connections of its owner have also brought the institution under public scrutiny.