Agrobanka's affair to end in August 2012?

The Government is announcing the end of the affair with a bank by the end of August. There are rumors it is Agrobanka.

Last year, due to uncollectible debts, bankruptcy procedure started in Agrobanka and significant funds were set aside to set up Nova Agrobanka.

Except from tax payers, small shareholders, threatening with a suit, were damaged as well.

Although being the Vice President for Safety and Anti-Corruption and criminal fight, Aleksandar Vucic was not specific about the bank, but there are loud rumors it is Agrobanka.

Agrobanka’s shareholders faced the destiny of depositors of former pyramidal banks. The state provided bonds to Dafiment and Jugoskandik’s depositors so it turns out small Agrobanka’s shareholders gambled more than them.

- It is not the matter whether the company had bad results but the thing is it has been hidden in the financial reports showing quality business which led investors to take certain actions - Nenad Gujanicic, a broker, said.

Small and mid-sized creditors of Agrobanka suffering bankruptcy procedure, still have hope because they are announcing investigation of the management responsibility.

It is a huge question of whom and what for will be prosecuted.

It is only then we can provide more precise answer and to ask question whether they could indemnify private property of this kind of entities - Dragoljub Djordjevic, the President of the Bar Association of Serbia said.

But, the rules say, Djordjevic said, the people declared to be guilty and responsible for the damage, can beseem in personal property.

In comparison to small shareholders, large depositors, Hypo Group and foreign investment funds cannot rely on damage compensation payment. They have announced international suit.

- We must not risk EUR 700 mil, the sum mentioned when foreign investors submit suits before the European institutions but the state must investigate where the guilt appeared, to take adequate measures to protect its citizens as well as the sector which is the key in development process, i.e. foreign investments - Vladimir Krulj, an economic consultant said.

Tax payers have already been paying for the Agrobanka doom.

In order to prevent from domino effect in the banking system, the government invested EUR 220 mil in Nova Agrobanka.