Important for everyone repaying a housing loan at ALTA Bank: Obligations and deadlines remain in effect, here's what happens if another bank takes them over
The National Bank of Serbia's decision to revoke ALTA Bank's operating license has raised a number of questions for citizens and businesses who had accounts, savings, or loans with that bank. While savers await the start of insured deposit payouts, users of housing and cash loans must continue to repay installments, regardless of the bankruptcy proceedings.
TL;DR
- ALTA Bank clients must continue loan repayments during bankruptcy.
- The Deposit Insurance Agency will manage loan repayments and inform clients of new payment instructions.
- Existing loan agreements, including interest rates and repayment terms, remain in effect.
- Insured deposits up to 50,000 euros per depositor will be paid out within seven working days of the bankruptcy order.
- Clients with deposits exceeding 50,000 euros must file claims in the bankruptcy proceedings for the amount above the insured limit.
- The closure of ALTA Bank is not expected to significantly impact the stability of the overall banking sector.