The National Bank of North Macedonia (NBRSM) today announced its decision to revoke the Banking license of Eurostandard banka (Eurostandard Bank), acting in accordance with the Law on Banks, and said that tomorrow it will petition the competent court to initiate the bankruptcy procedure.

Eurostandard banka does not meet the minimal requirements to do business. All of the deposits of 99.4% of the savers will be reimbursed within the legal deadlines, under the terms and conditions of the Fund for Deposits Insurance, in the shortest possible period,” said the Governor of NBRSM, Anita Angelovska – Bezhoska, in the urgent press conference this afternoon.

The share of the bank assets of Eurostandard banka in the total banking assets in the country is from 1.3 to 1.7% of the total deposits and loans and because of this, according to Bezhoska, the bankruptcy will not bring in the question of the stability of the banking system in the country, which remains stable and well capitalized.

In opposition to this decision of the NBRSM, Eurostandard banka this afternoon issued a press release, claiming that: “There is proliferation of false information concerning the regular functioning of the bank, which causes direct damage to the bank and its clients. Eurostandard banka strongly refutes these falsehoods, which can cause long term consequences for the bank and the banking sector as a whole.”

The bank stressed that it will continue its regular operations, under the legal regulations for financial reporting and management of the risks in the operation.