Banka Srpske officially goes into liquidation

Banka Srpske is officially going into liquidation. The Banking Agency of Republika Srpska revoked its banking license after the Bank's capital became negative, and the Bank's shareholders did not ensure that this capital was increased, it was announced from the Banking Agency of RS.

- Given the fact that no objection was filed with the Management Board of the Banking Agency of RS within the legal deadline, the decision to revoke the license becomes final as of May 11, 2016 - the Agency stated.

The decision to revoke the operating license was made at the proposal of the temporary administrator, and based on indicators showing that the Bank's capital is negative and that the Bank's shareholders have not, despite several extensions of deadlines, ensured the increase of the Bank's capital to the prescribed legal minimum.

- The Banking Agency of Republika Srpska has made a Decision to initiate the liquidation procedure of the Bank and has appointed a liquidator, who is obliged to prepare a liquidation plan and carry out the liquidation procedure according to priorities. Economist Petar Mićić has been appointed as the liquidator. The Deposit Insurance Agency of Bosnia and Herzegovina is obliged to initiate the procedure for payment of insured deposits, i.e. deposits up to 50,000 KM, no later than 30 days from the date of revocation of the operating license - the Agency's statement reads, reports NAP.