Last updated: 31 October 2026. This guide will be updated as the Commercial Court in Belgrade and the Deposit Insurance Agency publish further information.
In a decision announced in the early hours of 31 October 2026, the National Bank of Serbia (NBS) revoked the operating licence of ALTA banka a.d. Beograd (“Alta Banka”). The NBS has also determined that the conditions for bankruptcy are met, and the Alta Banka bankruptcy will be conducted by the Deposit Insurance Agency (AOD) as bankruptcy administrator. For account holders, the consequences are immediate: accounts are frozen, cards and payments no longer work, and access to funds now depends on the statutory deposit insurance scheme and on the bankruptcy proceedings.
Alta Banka was a bank of choice for many foreign nationals who relocated to Serbia, including a significant number of Russian citizens and Russian-owned businesses. This guide explains what the Alta Banka bankruptcy means for foreign individuals and foreign-owned companies: which balances are protected, what must be done to recover amounts above the insured limit, and which deadlines matter.
Key points
- Deposits are insured up to €50,000 per depositor, aggregated across all accounts and currencies held with Alta Banka.
- Individuals are covered regardless of nationality or residence. Entrepreneurs and micro, small and medium-sized companies registered in Serbia are also covered. Large companies and foreign (non-resident) companies are not.
- AOD will begin paying insured amounts no later than seven working days after the Commercial Court in Belgrade opens bankruptcy proceedings.
- Balances above €50,000, and all balances of uninsured depositors, must be pursued as claims in the bankruptcy, within a deadline set by the court.
- Loans owed to Alta Banka remain payable. Bank guarantees, payments in transit and pending transactions should be reviewed now.
The Alta Banka bankruptcy: what has happened
According to the NBS, the revocation followed supervisory measures aimed at increasing the bank’s liquidity. The NBS found that the bank’s financial position had deteriorated significantly, that further deterioration was possible, and that depositors’ interests were at risk. By a parallel decision confirming that the conditions for bankruptcy are met, management of the bank was transferred to AOD. The NBS has also stated that proceedings have been initiated against the bank, its shareholders, its management and other responsible persons.
Alta Banka’s accounts have been blocked since 30 October 2026. The bank was disconnected from the NBS instant payment system and has suspended card payments, domestic and cross-border payment transactions, and branch operations.
The formal step that starts the payout timetable is the decision of the Commercial Court in Belgrade opening bankruptcy proceedings and appointing AOD as bankruptcy administrator. AOD has indicated that it expects that decision as early as Monday, 2 November 2026.
The rest of the banking system is not affected in the same way. The Association of Serbian Banks has described the case as an isolated one that does not affect the operations of other banks, and the measures taken by the NBS were aimed expressly at protecting depositors and preserving financial stability.
Timeline: what happens next
| Stage | Timing | What it means for you |
|---|---|---|
| Licence revoked; AOD takes over management | 30–31 October 2026 | Accounts frozen; no payments, card transactions or withdrawals. |
| Court decision opening bankruptcy; AOD appointed administrator | Expected in early November 2026 | Starts the statutory timetable below. |
| AOD publishes the payout notice | Within 3 working days of the court decision | Payout bank, locations, required documents and deadlines announced on aod.rs and in the media. |
| Payout of insured amounts begins | No later than 7 working days after the court decision | Insured depositors can collect up to €50,000. |
| Deadline for filing claims | Set by the court: 30–90 days from publication of the bankruptcy notice in the Official Gazette | Amounts above €50,000 and uninsured balances must be filed within this window. |
| Examination of claims; distributions | After the claims deadline; distributions as assets are realised | Claims are acknowledged or disputed; disputed claims may require litigation. |
Is your money insured? Deposit insurance at Alta Banka
Serbian deposit insurance covers up to €50,000 per depositor, per bank, regardless of the type or number of accounts and the currency in which funds are held. The limit applies to the depositor’s aggregate balance with Alta Banka, not to each account separately.
Who is covered
- Individuals – both residents and non-residents. Foreign nationals are covered on the same terms as Serbian citizens, whether or not they hold a Serbian residence permit.
- Entrepreneurs (preduzetnici) registered in Serbia.
- Micro, small and medium-sized legal entities registered in Serbia, as classified under Serbian accounting legislation. This includes Serbian companies wholly owned by foreign shareholders.
Who is not covered
- Large legal entities, as classified under Serbian accounting legislation.
- Foreign (non-resident) legal entities holding accounts with Alta Banka.
- Persons related to the bank, state bodies, and banks and other financial-sector institutions.
- Certain other deposits, including deposits pledged as collateral where the secured debt to the bank equals or exceeds the deposit, and deposits linked to money laundering or terrorist financing.
How the payout works
- Currency. Dinar deposits are paid in dinars. Foreign-currency deposits are paid in euros, converted at the official NBS middle rate applicable on the date bankruptcy proceedings are opened. Balances held in US dollars, Swiss francs or other currencies will therefore be paid out in euros.
- Procedure. Payment is made through a payout bank designated by AOD, on the basis of a written request. Depositors should expect to present identification (for foreign nationals, a passport) and documents evidencing the account or deposit, such as the account agreement.
- Official source. AOD’s notice will state the payout bank, locations, required documents and the deadline for submitting requests. Rely on the announcements published on the Deposit Insurance Agency’s website rather than on secondary sources.
If your total balance is within €50,000 and you fall within a covered category, you do not need to file a claim in the Alta Banka bankruptcy: AOD pays the insured amount and recovers what it has paid from the bankruptcy estate.
Balances above €50,000 and uninsured accounts
Any amount exceeding the insured limit – and the entire balance of a depositor outside the insurance scheme, such as a large company or a non-resident legal entity – is not paid by AOD. It becomes a claim against Alta Banka in bankruptcy, which must be filed with the Commercial Court in Belgrade within the deadline set in the court’s decision opening the proceedings. Under Serbian bank insolvency legislation, that deadline is between 30 and 90 days from publication of the bankruptcy notice in the Official Gazette of the Republic of Serbia. Claims filed late risk being rejected.
Where your claim ranks
Serbian law establishes a statutory order of payment. The portion of an insured depositor’s balance that exceeds €50,000 ranks in the first payment class. Deposits of depositors outside the insurance scheme rank lower – after certain public revenue claims and claims of the NBS – but still ahead of ordinary unsecured creditors. How much is ultimately recovered depends on the realisation of the bank’s assets, and distributions in bank insolvencies typically extend over a considerable period.
What filing a claim involves
- A written filing in Serbian stating the legal basis and amount of the claim, including interest calculated up to the opening of the proceedings, supported by account statements, agreements and other evidence.
- Claimants based outside Serbia should appoint a representative in Serbia for service of court documents. Powers of attorney and corporate documents executed abroad generally require an apostille (or legalisation) and a certified Serbian translation.
- The administrator reviews each claim and either acknowledges or disputes it at the examination hearing. A disputed claim may have to be established in separate litigation, which must be initiated within a short statutory deadline.
Set-off and transactions before the closure
Clients who both owe money to Alta Banka – for example under a loan or overdraft – and hold uninsured balances should have the possibility of set-off assessed promptly. Where available, set-off can materially reduce net exposure, but it is subject to statutory conditions and procedural steps within the bankruptcy.
Serbian bank insolvency legislation also allows certain transactions carried out in the six months before the bankruptcy takes effect (one year for persons related to the bank) to be challenged. Companies that moved significant funds out of Alta Banka shortly before the closure should keep complete documentation of those transactions and seek advice if questions are raised.
Issues specific to foreign nationals and foreign-owned companies
Deadlines run from publication, not from personal notice
Official notices in the Alta Banka bankruptcy are published in Serbian – on the court’s notice board, in the Official Gazette and on AOD’s website. Deadlines run from publication, whether or not a foreign depositor is aware of it. Depositors who are abroad, or who do not follow Serbian-language sources, are the most exposed to missing them.
Acting from outside Serbia
Depositors who have left Serbia can generally act through an authorised representative, both to collect an insured payout (subject to the requirements AOD announces) and to file and pursue a claim. Arranging a valid power of attorney abroad takes time, so it should be organised early.
Business continuity for companies
- New bank account. Open a new business account without delay so that salaries, taxes and supplier payments can continue. For companies with foreign – and in particular Russian – ownership, onboarding at another bank may involve enhanced due diligence. Preparing ownership, source-of-funds and business-activity documentation in advance shortens the process. Our guide to opening a bank account in Serbia sets out what Serbian banks currently require.
- Payment flows. Notify customers and counterparties of new payment details, and check the status of any payments that were in transit when the bank was blocked.
- Guarantees and letters of credit. Where a guarantee issued by Alta Banka secures your obligations – for example under a lease, a tender or a customs procedure – the beneficiary is likely to request a replacement. Where you are the beneficiary, your rights under the guarantee become a claim in the bankruptcy.
- Immigration status. Where residence or work permits depend on employment with a Serbian company, an interruption in payroll should be addressed quickly. See our overview of residence and work permits in Serbia.
Loans and other obligations to the bank
The bankruptcy does not release borrowers from their obligations. The NBS has stated that debtors of Alta Banka will receive clear instructions on how to settle their obligations once the bankruptcy is opened. Until then, borrowers should not treat the closure as a suspension of their loan, and should keep a record of every instalment falling due.
Investment and custody clients
AOD has announced that it will also publish a call to small investors to submit requests for payment of claims protected under the investor protection scheme, up to the statutory limit. Securities held in custody for clients are, as a rule, kept separate from the bank’s own assets; clients should confirm their positions and the procedure for transferring them to another custodian.
Frequently asked questions
Is my money in Alta Banka lost?
Not automatically. Insured depositors will be paid up to €50,000 by AOD. Amounts above that limit, and the balances of uninsured depositors, are claims in the bankruptcy and are repaid to the extent the bank’s assets allow, in the statutory order of payment.
Are foreign nationals covered by deposit insurance in Serbia?
Yes. Individuals are covered regardless of nationality or residence. Coverage for entrepreneurs and companies is limited to those registered in Serbia and excludes large companies.
When will insured deposits be paid out?
AOD will start the payout no later than seven working days after the Commercial Court in Belgrade issues its decision opening bankruptcy proceedings, and will announce the payout bank and conditions within three working days of that decision.
My company has an account with Alta Banka. Is it insured?
Only if the company is registered in Serbia and qualifies as a micro, small or medium-sized legal entity. A large company, or a foreign company holding a non-resident account, is not insured; its full balance must be filed as a claim in the bankruptcy.
What is the deadline for filing a claim in the Alta Banka bankruptcy?
The court sets the deadline in its decision opening the proceedings. Under Serbian bank insolvency legislation, it is between 30 and 90 days from publication of the bankruptcy notice in the Official Gazette. Late claims risk rejection.
I have a loan with Alta Banka. Do I still have to repay it?
Yes. The bankruptcy does not release borrowers. Instructions on how to continue repaying are to be issued once the bankruptcy is opened.
I am no longer in Serbia. Can someone act on my behalf?
Generally, yes – through a duly authorised representative. A power of attorney executed abroad will usually need an apostille (or legalisation) and a certified Serbian translation, so it should be arranged early.
Should you have questions or require assistance in connection with the Alta Banka bankruptcy, please write to us at inquiry@injac.rs or through our contact page.
This article is based on public statements of the National Bank of Serbia and the Deposit Insurance Agency available as of 31 October 2026, and on the legislation in force on that date. It provides general information and does not constitute legal advice.
