Belgrade: Serbia's central bank said on Saturday it revoked the license of Alta Bank, whose owner reportedly had close ties to former president Aleksandar Vucic's party.
The decision comes days after the parliamentary polls that saw a student movement defeat Vucic's right-wing SNS nationalist party, ending its 14-year rule.
The decision to revoke the license was taken "in order to protect the interests of depositors and preserve the stability of the financial system," the central bank said in a statement.
"The bank's financial situation has significantly deteriorated in recent times, and there is a risk of a further worsening of its financial position or liquidity," it said.
According to several local media outlets, the bank is run by Davor Macura, who allegedly has close ties to the SNS.
In July 2025, the student movement condemned the authorities' decision to entrust Alta Bank with processing electricity bill payments nationwide.
Alta Bank is not among the country's largest banks, accounting for just three percent of the market.
In the days since the polls, students have pushed for reform of state-run agencies, targeting those the movement accused of being beholden to Vucic's party.
