23.07.2009.

Receivership of Metals banka to Be Completed

Following successful recapitalisation of Metals banka from Novi Sad, conditions have been met for the National Bank of Serbia to officially end receivership of that bank introduced in October 2008. Receivership proceedings were instituted because of the bank’s financial woes that escalated at the time Metals banka was already under specific corrective measures pronounced by the NBS.

As the bank’s management and shareholders were unable to improve the bank’s ailing financial position on their own and provide the liquidity necessary for overcoming those difficulties, in accordance with regulations, the National Bank introduced receivership and extended a liquidity loan to the bank.  The aim of receivership - finding solutions that best protect the interests of the bank’s depositors and creditors, as well as preserving banking sector, financial and macroeconomic stability – has been fully achieved. Owing to NBS measures, Metals banka managed to weather the crisis. It is important to note that not a single dinar was wasted through NBS financial support as Metals banka repaid the approved liquidity loan in full.   

Having implemented the decisions passed at the 35th Shareholders’ Assembly, Metals banka recapitalized in mid-July, raising its capital by RSD 3,784,550,000.00. Its shares were bought by the Autonomous Province of Vojvodina, its new majority shareholder, and DDOR which has retained a 10% share in the bank’s capital. Now that the bank’s solvency and liquidity have been restored, the NBS will officially complete the receivership once new bank bodies are set up.

Governor`s Office