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Central Bank Repeats Withdrawal of Kapital Banka’s Operating License

The central bank repeated its decision to withdraw the banking license of Kapital banka on Friday. On Aug 11, Serbia’s supreme court ruled in favour of Kapital banka, whose managers appealed the previous decision of the central bank, taken during the term of Mladjan Dinkic.

According to the appeal, the motives of the central bank were unjust and biased. The license of Kapital banka was revoked due to violations of the central bank’s regulations on capital adequacy and reserves, as well as due to discovered misappropriations with the bank’s assets. Presenting similar arguments, the central bank confirmed its intention to liquidate Kapital banka.

The second decision of the central bank read that given the failure of Kapital banka to comply with the recommendations so far, the only way out was its liquidation. The decision was also based on some of the Supreme Court’s arguments, which admitted some irregularities in the operations of Kapital banka.

Thus far, the management of Kapital banka has announced its intentions, but in our view, it is going to file another appeal at the Supreme Court.

(IntelliNews 18.viii.03)

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