NBS places Agrobanka into receievership

The National Bank of Serbia placed the agricultural bank Agrobanka into receivership on Thursday (29 December 2011). The receivership was imposed because it was determined during the inspection of Agrobanka's operation that its assets did not match the level of risk taken by that bank in its previous operations, the NBS announced in a statement.

The same inspection led to a conclusion that the Bank's liquidity level was satisfying and above the prescribed minimum.

Receivership represents one of the corrective measures that NBS takes when it determines that prescribed conditions have been met and assesses that the change in the manner of managing a bank would improve its financial situation, that is, protect the deposits of citizens and the economy. Therefore, we underline that, upon the appointment of a receiver at Agrobanka, the Bank will continue to operate regularly and render services to its clients under the new management, reads the NBS' statement.

The receivers appointed by the NBS are Milorad Dzambic and Julije Miladinovic.