NewsRegulation
Serbia Shut Alta Banka 4 Months After a 144% Liquidity Ratio
Serbia's central bank revoked ALTA banka's operating licence on 30 October, citing a significant deterioration in its finances, and two days later revoked the e-money licence of its parent, ALTA GROUP. Montenegro withdrew the authorisation of Alta Pay Group in between. At the end of June, the ALTA banking group had reported a 144.21% liquidity coverage ratio and an 18.22% total capital ratio.
Key takeaways 6
- Serbia revoked ALTA banka's licence on 30 October, citing deteriorating finances and a risk to liquidity.
- Its parent, e-money firm ALTA GROUP, lost its licence on 2 November as an automatic consequence.
- Montenegro revoked Alta Pay Group's payment licence on 1 November; the CBCG did not name its owner.
- On 30 June the group reported a 144.21% liquidity coverage ratio and an 18.22% total capital ratio.
- Serbia's e-money register lists five firms; a May 2025 copy listed the same five plus ALTA GROUP.
- Alta Pay is the third withdrawal on Montenegro's register; six payment institutions remain.
Serbia's central bank revoked the operating licence of ALTA banka a.d. Beograd on 30 October, saying the bank's financial condition had deteriorated significantly and that its financial condition or liquidity was likely to worsen further. Four months earlier, on 30 June, the banking group the bank belongs to reported a liquidity coverage ratio of 144.21% and a total capital ratio of 18.22%, in a disclosure signed on 28 September.
Within three days the group's parent, an e-money institution, also lost its licence, and Montenegro's central bank withdrew the authorisation of Alta Pay Group, a payment firm in Podgorica that uses the same brand.
Three decisions in four days
The National Bank of Serbia (NBS) said its Executive Board acted under the Law on Banks after supervisory work aimed at raising the bank's liquidity and a temporary measure. It transferred management to the Deposit Insurance Agency, which is to be appointed bankruptcy administrator by court ruling, and said proceedings had been started against the bank, its shareholders, management and other responsible persons. Insured deposits are covered up to EUR 50,000 per depositor.
On 1 November the Council of the Central Bank of Montenegro (CBCG) revoked Alta Pay Group's authorisation under the Payment System Law, citing criteria that include the eligibility of the holder of a qualifying holding. Alta Pay's website says it stopped providing payment services that day and that orders received through its agents had been executed.
On 2 November the NBS revoked the e-money licence of ALTA GROUP DOO BEOGRAD, which also covered payment services. It called the decision "an automatic consequence" of the bank's delicensing, because the firm no longer met the good business reputation requirement for its qualifying holders.
The e-money firm was the bank's parent
According to the group's June disclosure, ALTA GROUP doo Beograd is the ultimate parent of a banking group that also includes ALTA Banka a.d. Beograd, ALTA Banka a.d. Bitola in North Macedonia and ALTA Leasing doo Beograd. The NBS said the e-money firm's obligations included payment orders, card payments at merchants and money owed to e-money holders, and that its users could move to other banks, e-money institutions or payment institutions. It also told currency exchange offices that worked only with Alta banka, or used its exchange software, to switch to another bank or to NBS software.
Alta Pay Group DOO Podgorica is not listed as a member of the banking group, and the CBCG did not name its owner.
What the June figures showed
At the end of June the group reported a common equity tier 1 ratio of 15.30%, against a minimum of 7.66% including buffers, and a total capital ratio of 18.22%, against 11.16%. Its liquidity coverage ratio was 144.21%, meaning liquid assets covered expected net outflows over 30 days of stress with room to spare, and its net stable funding ratio was 167.52%.
These are consolidated group figures as at 30 June. The NBS described a significant deterioration "in the prior period" but did not publish bank-level figures.
What the registers show now
Serbia's register of e-money institutions lists five firms: LED Pay, Chip Card, Payspot, Transaks and Tenfore. An archived copy from May 2025 listed the same five plus ALTA GROUP, under registration number 625.
Montenegro's register of withdrawn payment authorisations has three entries: Diners Club International Montenegro in July 2020, MTEL in November 2021 and Alta Pay Group on 1 November 2026. Alta Pay had been authorised in January 2024. Six payment institutions remain on the CBCG register, and no e-money institution is registered.
What this does not show
The NBS releases give no number of clients, deposits or e-money users. The ratios are group figures, not the bank's own, and HaiPay has seen nothing later than 30 June. Media have reported that North Macedonia's central bank put ALTA Banka Bitola under temporary administration; its website refused automated access, so HaiPay could not verify this. HaiPay found no primary document on Alta Pay Group's ownership and did not contact the companies or the regulators.
What to watch
The Commercial Court in Belgrade's decision to open bankruptcy proceedings, after which the Deposit Insurance Agency is to publish payout terms within three business days.
Whether North Macedonia's central bank publishes a decision on ALTA Banka Bitola.
And how the obligations of ALTA GROUP and Alta Pay to payment users and merchants are settled.
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Data highlight
144.21 %
Liquidity coverage ratio of the ALTA banking group (ALTA GROUP doo Beograd consolidated), as at 30 June 2026
As at 30 June 2026
Liquidity coverage ratio of the ALTA banking group, consolidated for ALTA GROUP doo Beograd and its subsidiaries ALTA Banka a.d. Beograd, ALTA Banka a.d. Bitola and ALTA Leasing doo Beograd, as at 30 June 2026, as reported in the group's regulatory disclosure signed on 28 September 2026. It is a group figure, not a bank-level one, and predates the National Bank of Serbia's 30 October 2026 decision to revoke ALTA banka's licence. HaiPay reports the figure as published.
Data as of 5 November 2026 · UTC
Methodology and limitations
Compiled by HaiPay on 5 November 2026 from press releases of the National Bank of Serbia (NBS) dated 31 October to 3 November 2026, a press release and registers of the Central Bank of Montenegro (CBCG), the ALTA banking group's regulatory disclosure as at 30 June 2026 published on altapay.rs and signed on 28 September 2026, and a customer notice on altapay.me. Ratios are as reported by the group on a consolidated basis for ALTA GROUP doo Beograd and its subsidiaries; they are not bank-level figures for ALTA banka a.d. Beograd and are not later than 30 June 2026. Minimum capital ratios are those stated in the same disclosure, including the 3.16% combined buffer. The Serbian e-money register count compares the NBS register read on 5 November 2026 with an Internet Archive copy dated 28 May 2025. The Montenegrin counts are from the CBCG registers read on 5 November 2026. The CBCG did not name Alta Pay Group's owner, and HaiPay found no primary document setting out its ownership; it is not listed as a member of the ALTA banking group. The National Bank of North Macedonia's website refused automated access, so reports about ALTA Banka Bitola were not verified. HaiPay did not contact the companies or the regulators.
Data and research materials
- ALTA banking group ratios at 30 June 2026 and Serbian and Montenegrin licence registers (HaiPay) ↓CSV · 4 KB
17 rows compiled by HaiPay on 5 November 2026. ALTA banking group consolidated capital, leverage and liquidity ratios as at 30 June 2026 from the group's regulatory disclosure signed 28 September 2026, with capital minimums including the 3.16% combined buffer; dates of the three licence revocations from the National Bank of Serbia and the Central Bank of Montenegro; and counts from the Serbian e-money register (5 firms on 5 November 2026; 6 in an Internet Archive copy of 28 May 2025) and the Montenegrin payment, e-money and withdrawn-authorisation registers. Columns: item, value, as_of, source, url.
HaiPay's charts and the CSV table on this page may be reused with attribution to HaiPay and a link to this article. The ratios are from the ALTA banking group's own disclosure and the dates and counts from the National Bank of Serbia and Central Bank of Montenegro; the compilation is HaiPay's.
Term definition
- Liquidity coverage ratio (LCR)
- High-quality liquid assets divided by expected net cash outflows over 30 days of stress; above 100% means the buffer covers the outflows.
- E-money institution
- A non-bank licensed to issue electronic money and usually to provide payment services; it does not take deposits.
- Qualifying holding
- A stake large enough, typically 10% or more, to give significant influence over a regulated firm, which brings fitness and reputation checks.
13 sources
- National Bank of Serbia
NBS delicenses ALTA banka a.d. Beograd
Dated 31 October 2026: the NBS Executive Board revoked the operating licence of ALTA banka a.d. Beograd under the Law on Banks; the bank's financial condition had deteriorated significantly and further deterioration of its financial condition or liquidity was likely; supervisory activities had aimed to raise its liquidity; the Deposit Insurance Agency to be appointed bankruptcy administrator; insured amounts available within seven business days.
Accessed 5 November 2026 · UTC
- National Bank of Serbia
Rights of ALTA banka's creditors and depositors protected and financial sector stability maintained
Dated 31 October 2026: licence revoked on 30 October after supervisory activities and a temporary measure; management transferred to the Deposit Insurance Agency; proceedings initiated against the bank, its shareholders, management bodies and other responsible persons; insured amount EUR 50,000.
Accessed 5 November 2026 · UTC
- National Bank of Serbia
Dated 3 November 2026: at its 2 November meeting the NBS Executive Board revoked the e-money licence, also covering payment services, of ALTA GROUP DOO BEOGRAD as an automatic consequence of the bank's delicensing, under the Law on Payment Services (good business reputation of qualifying holders); obligations from payment orders, card payments at merchants and to e-money holders.
Accessed 5 November 2026 · UTC
- National Bank of Serbia
Insured deposits protected, banking sector stable, stability of the dinar to be preserved
Dated 2 November 2026: insured deposits up to EUR 50,000 per depositor per bank, payout guaranteed by the Republic of Serbia.
Accessed 5 November 2026 · UTC
- National Bank of Serbia
Notice to exchange dealers with contracts with Alta banka
Dated 2 November 2026: exchange dealers contracting only with Alta banka, or using its exchange software, must switch to another bank or to NBS software.
Accessed 5 November 2026 · UTC
- National Bank of Serbia
Notice regarding the current accounts of Alta banka clients
Dated 3 November 2026: the Deposit Insurance Agency will publish payout terms within three business days of the Commercial Court in Belgrade opening bankruptcy proceedings.
Accessed 5 November 2026 · UTC
- National Bank of Serbia
Register of electronic money institutions
Read 5 November 2026 through the NBS web application: five e-money institutions listed (LED Pay, Chip Card, Payspot, Transaks, Tenfore); ALTA GROUP not listed.
Accessed 5 November 2026 · UTC
- Central Bank of Montenegro
Dated 1 November 2026: the CBCG Council revoked the authorisation of payment institution Alta Pay Group DOO Podgorica under the Payment System Law, including criteria on the eligibility of the holder of a qualifying holding.
Accessed 5 November 2026 · UTC
- Central Bank of Montenegro
Payment institutions and electronic money institutions whose authorisation is withdrawn
Register read 5 November 2026: three withdrawals listed, Diners Club International Montenegro (30 July 2020), MTEL (22 November 2021) and Alta Pay Group (authorised 23 January 2024, withdrawn 1 November 2026, decision 0101-8589-2/2026).
Accessed 5 November 2026 · UTC
- Central Bank of Montenegro
Register of Payment Institutions
Read 5 November 2026: six payment institutions listed; the CBCG's e-money register states that no e-money institution is registered.
Accessed 5 November 2026 · UTC
- ALTA GROUP doo Beograd
Disclosure signed 28 September 2026, as at 30 June 2026: group members ALTA GROUP doo Beograd (parent), ALTA Banka a.d. Beograd, ALTA Banka a.d. Bitola and ALTA Leasing doo Beograd; CET1 and Tier 1 ratios 15.30%, total capital ratio 18.22%, combined buffer 3.16%, leverage ratio 10.69%, LCR 144.21%, NSFR 167.52%.
Accessed 5 November 2026 · UTC
- Alta Pay Group DOO Podgorica
Alta Pay Group DOO Podgorica customer notice
Customer notice read 5 November 2026: Alta Pay Group DOO Podgorica stopped providing payment services from 1 November 2026; orders received through its agents up to that date were executed.
Accessed 5 November 2026 · UTC
- Internet Archive
Internet Archive capture of the NBS register of electronic money institutions, 28 May 2025
Archived copy of 28 May 2025: six e-money institutions, including ALTA GROUP DOO BEOGRAD, registration number 625.
Accessed 5 November 2026 · UTC
How to cite
HaiPay News, "Serbia Shut Alta Banka 4 Months After a 144% Liquidity Ratio", https://www.haipay.net/news/alta-banka-licence-revoked-serbia-montenegro, 5 November 2026
