Press Release on Revoking the Banking License of Banka Srpske
Based on Article 19, paragraph 1, point 3 and point 7 of the Law on Banks of Republika Srpska ("Official Gazette of Republika Srpska", no. 44/03, 74/04, 116/11, 05/12 and 59/13), on 27/4/2016, the Banking Agency of Republika Srpska issued a decision on revoking the banking license of Banka Srpske a.d. Banja Luka - under provisional administration (hereinafter: Bank) which was not final taking into account the possibility of filing a legal complaint, as stated in the press release, reference: 01-105-653/16 issued on 4/5/2016 by the Banking Agency of Republika Srpska.
Given the fact that no legal complaint was filed to the Management Board of the Banking Agency of Republika Srpska within the legal deadline, the decision on revoking the banking license is to become final on 11/5/2016. The final decision will be published in the Official Gazette of Republika Srpska, as well as in a local newspaper published on the territory of Republika Srpska and a newspaper available on the territory of the Federation of Bosnia and Herzegovina and District Brcko.
Decision on revoking the banking license was issued based on the measure proposal of the Bank's provisional administrator, as well as based on indicators proving that the Bank's capital was inadequate and that the Bank's shareholders, despite several prolonged deadlines, failed to increase the capital up the the legally required minimum.
Banking Agency of Republika Srpska issued a decision on introducing a liquidation procedure in the Bank and appointed a liquidation administrator who is obliged to compile a plan of liquidation and to implement the liquidation procedure according to the priorities prescribed in Article 119 of the Law on Banks of Republika Srpska.
Mr. Petar Micic, dipl. oecc., was appointed as a liquidation administrator.
Deposit Insurance Agency of Bosnia and Herzegovina is obliged to start the payment process of eligible deposits, i.e. deposits up to 50,000.00 KM, no later than 30 days from the day of license revocation.