Serbia revokes the licence of Alta, a bank popular with Russians

The National Bank of Serbia pulled the licence overnight into Saturday, saying Alta's finances had deteriorated and it had liquidity problems. It said it acted to protect depositors and the stability of the financial system.

Insured deposits

50,000 euros per client

Deposits are insured up to 50,000 euros per client, and Serbia's deposit insurance agency, now the bank's receiver, promised to start payouts within seven working days.

Background

Alta served non-residents, and many Russians opened accounts there after moving to Serbia following the full-scale invasion of Ukraine. Its active clients grew from 47,400 to 66,500 in 2025.

Before the decision, the bank was accused of suspicious transactions worth 50 million euros, which it rejects. Four deputy governors of the central bank have asked prosecutors to review whether the revocation was lawful.