02.10.2001.

Yugoslav Central Bank Revokes Licences of Two Commercial Banks

The National Bank of Yugoslavia made decisions today on the revoke banking licenses and liquidate two commercial banks: "Srpska eksportno-razvojna banka (SERB bank)" Joint-Stock Company of Belgrade, and "Yuekibanka" Joint-Stock Company of Belgrade.

NBY's Supervision Department determined that the pecuniary share of the banks' equity capital was by far below the minimal mandatory level. Also brought to light was a huge concentration of bad loans, as well as some operations that ran contrary to the Law on Banks, Law on Accounting and other legal regulations. The NBY took this well-grounded decision to revoke the banks' licenses only after the presentation of the indisputable facts established through a thorough examination of banking operations of these two banks.

Press Releases from Governor's Cabinet