# North Macedonia Opposition Challenges Government Over Failed Serbian Bank Subsidiary Political tensions rise as opposition leaders question the stability of Alta Banka Bitola. - **Source:** [Balkan Insight](https://balkaninsight.com) - **Published:** 2026-11-12 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/5aee2d66-29eb-42a8-b768-2b46b7995148 ## Political Conflict Over Banking The Social Democrats, led by Venko Filipce, have accused the North Macedonian government of shielding the local subsidiary of the bankrupt Serbian Alta Banka. This follows criminal complaints filed by the National Bank against four senior opposition officials. The opposition claims these legal actions are designed to silence criticism regarding the bank's operations. ## Collapse of Serbian Parent Serbia's central bank revoked the operating license of Alta Banka in Belgrade on October 31, citing a severe deterioration in its financial position. Bankruptcy proceedings were initiated immediately. Consequently, the North Macedonian subsidiary, where the Belgrade entity holds a 95.17 percent stake, was placed under temporary administration by local authorities on November 1. ## Public Access Restrictions The placement of Alta Banka Bitola under temporary administration has triggered significant public concern. Customers face temporary restrictions on accessing their funds, leading to queues at ATMs across the country. The opposition questions whether public enterprises and citizens will be able to recover their deposits, citing potential stakes of 150 to 180 million euros. ## Opposition Allegations of Malpractice Venko Filipce has raised serious suspicions regarding the bank's entry into the North Macedonian market in 2025. He alleged potential links between the bank's owner, Davor Macura, and Serbian political circles. The party is questioning whether the bank was utilized for money laundering involving Russian capital and if its reported financial assets actually exist. ## Government and Regulator Response Prime Minister Hristijan Mickoski has called for a formal investigation into the opposition for alleged sabotage, claiming they are spreading fear. Meanwhile, Central Bank Governor Trajko Slaveski maintains that the subsidiary remains financially sound. He has refused to disclose details regarding corporate clients, citing banking secrecy laws to protect sensitive institutional financial data. ## Market Position and Scale Despite the intense political storm, Alta Banka Bitola remains a relatively small player within the national banking sector. It ranked 12th among the country's 14 banks in 2025. With total assets of approximately 11.3 billion denars, or 184 million euros, it represents only 1.21 percent of the total North Macedonian banking market share. ## Lack of Transparency Concerns The Chief Public Prosecutor, Nenad Saveski, declined to confirm whether an official investigation into the bank has been opened, citing confidentiality. This lack of transparency has fueled further skepticism from the opposition. They continue to demand clarity on how the bank received its operating permit and whether political influence affected regulatory oversight decisions. ## Future of the Subsidiary The National Bank is currently seeking a potential buyer for the subsidiary to resolve the ownership crisis. While officials insist the institution is sound, the ongoing political confrontation complicates the recovery process. Observers are now watching to see if the government can restore public confidence before the banking situation escalates into broader instability. ## Sources covering this story - https://balkaninsight.com/2026/11/12/north-macedonia-opposition-accuses-govt-over-subsidiary-of-failed-serbian-bank/bi/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._