The Central Bank of Montenegro (CBCG) said the revocation of Alta Bank a.d. Belgrade’s operating licence does not threaten Montenegro’s financial stability. The bank does not operate in Montenegro and has no CBCG licence to conduct banking business, the central bank said.
The National Bank of Serbia revoked Alta Bank’s licence. Its banking business is linked exclusively to Serbia and North Macedonia, according to the CBCG. The institution also said: “Alta Bank does not operate in Montenegro.”
Alta Pay Group DOO Podgorica, which operates in Montenegro, is a payment institution under CBCG supervision, not a bank. It provides only payment and money-transfer services and does not accept deposits from citizens, so it cannot, in the CBCG’s assessment, negatively affect financial stability.
The CBCG said it had taken all necessary measures within its remit to prevent risks to Alta Pay Group’s service users. It began checking well before the current developments whether the company still met legal requirements for providing payment services.
Those checks remain under way, and the CBCG has not disclosed details because of legally prescribed deadlines. The central bank described Montenegro’s financial system as fully stable and said it would keep the public informed in a timely way about relevant matters.
