Serbia revokes Alta Banka license amid organized crime probe; central bank urges calm

Serbia's National Bank has revoked Alta Banka's operating license and initiated bankruptcy proceedings, confirmed by multiple sources. This action follows a request from the Special Prosecutor's Office for Organized Crime, which is investigating the bank for alleged financial misconduct, including foreign transfers and a long-standing case against its owner. The move is a rare enforcement action, raising concerns about potential systemic issues and reputational damage to the Serbian banking sector, with some claims suggesting a link to post-election capital flight and Russian interests.