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البلاد
Serbia Revokes Alta Bank
The Serbian central bank revoked Alta Bank’s license and initiated bankruptcy proceedings after its financial position deteriorated and it faced a liquidity shortage. The move came amid investigations into the suspected withdrawal of $428.96 million in cash from the bank’s vaults and the arrest of its owner on suspicion of involvement. The bank’s assets stood at about $2.04 billion at the end of June. The Deposit Insurance Agency confirmed that customers’ funds are insured up to $56,000 per eligible depositor, with any excess to be recovered through the bankruptcy proceedings.
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