The National Bank of Serbia said it withdrew Alta Bank’s licence on 30 October; in the early hours of 2 November the police detained the bank’s owner, Davor Macura, after more than 30 hours of searches in the bank’s premises.
Reasons for the licence withdrawal and consequences for customers
The regulator decided to cease Alta Bank’s operations due to a “significant deterioration in its financial position” and the risk of further liquidity deterioration, which threatened depositors’ interests. After the licence was withdrawn, banking operations were suspended and customers were unable to withdraw funds or use payment cards.
The Deposit Insurance Agency of Serbia is to be involved in paying out depositors; the guaranteed compensation in Serbia is up to €50,000 per depositor. The licence withdrawal was the first case of a bank bankruptcy in Serbia for more than ten years.
Investigation, searches and inspections
After the licence was withdrawn, law enforcement carried out more than 30 hours of searches in the bank’s premises, after which the owner was detained. Authorities are examining Alta Bank’s activities, including possible transfers of funds abroad; the National Bank has also filed a criminal complaint concerning the bank and several individuals.
Media reports said that customers began withdrawing substantial sums and transferring funds abroad after the elections, and that Alta Bank handled transfers for Russian citizens and companies after the Russian Federation (RF) launched its full-scale invasion of Ukraine. The Alta group previously attracted regulators’ attention over suspicions of possible money laundering; the group said that the “inspection concluded with no violations found”.
Size of the bank and role in the market
According to the National Bank, at the end of June 2026 Alta Bank’s assets amounted to about 214.9 billion dinars (≈€1.84 billion), ranking ninth among Serbian banks and representing roughly 2.9% of the sector’s total assets. The bank was a mid-sized institution but notable for rapid growth.
Alta Bank was part of Alta Group, wholly owned by Davor Macura; the group developed from a currency exchange kiosk in Belgrade to the acquisition of Jubmes banka in 2019 and its subsequent rebranding in 2020. The bank had business relationships with several state-owned companies, including processing electricity payments for the state company EPS.
