Bank of Srpska: 150 Million Marks in Deposits Blocked

Total deposits of Bank of Srpska amount to 149.5 million KM, of which deposits of individuals and private companies amount to about 61.9 million KM, reports the Patria News Agency. 

The net balance sheet of Bank of Srpska amounts to 230.3 million KM, of which cash on hand amounts to 20.9 million KM and it corresponds to accounting records.

The temporary administrator of Bank of Srpska, Petar Mićić, has initiated the procedure to engage an external auditor who will audit the financial statements for 2015 at this bank. The auditor's findings should be presented with preliminary data as of December 31, 2015, and completed by January 16 of the following year. Special attention will be paid by the auditor to the quality of the loan portfolio, i.e., missing reserves according to regulatory requirements.

Mićić emphasized that payment operations at the Bank were established yesterday, meaning all inflows from November 17, 2015, are now available to clients, while deposits found on the day the temporary administration was introduced remain blocked until a final solution is proposed.

“Deposits of individuals and legal entities are insured by the Deposit Insurance Agency of Bosnia and Herzegovina up to the amount of 50,000.00 KM per depositor, along with accrued interest, which is regularly credited even during the temporary administration. I call on the shareholders of the Bank to submit a plan of activities by December 14 for the implementation of measures to eliminate irregularities in the Bank's operations and improve its financial condition,” Mićić stated, writes capital.ba.