Skopje, 15 August 2020
Following the open questions and the stated untruths during the past two days, the National Bank informs the public that all measures it has taken against Eurostandard Bank AD Skopje are for protection of the Bank’s depositors, whereby, among other things:
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The limitation on lending protected depositors’ deposits. If this was not done, the Bank would have been able to place the deposits of citizens and companies in loans, without having sufficient capital. In this way, the National Bank had to protect citizens and companies - depositors of Eurostandard Bank AD Skopje and it did that.
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The owners have a legal obligation to provide capital for covering the bank’s losses.
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With the capital invested by the owners in 2019, the Bank reached the minimum legal requirements which from today’s perspective mean additional Euro 11 million of capital provided in the Bank’s balance sheet.
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The owners did not provide the necessary capital for the first half of this year, nor produced a satisfactory and real solution to transfer the ownership to an investor who would recapitalize the Bank in scope and at a pace that would enable its sustainability, given the condition of the Bank.
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The professional services and the management of the National Bank, aware of the gravity of the situation in the Bank, but also of the wider context of the COVID-19 pandemic, made maximum efforts, within legal frames, to find more favorable solution. In the intensive communication with the owners, the National Bank constantly clearly pointed to the gravity of the situation in the Bank and insisted on urgent recapitalization, stressing that if recapitalization does not occur, the National Bank will have no other choice but to take the toughest measure - revocation of the license for founding and operating the Bank.
The National Bank is an independent institution and when performing its legally established objectives and tasks, in its operations is exclusively guided by the laws, which equally apply to everybody.
All measures taken by the National Bank were aimed at preventing Eurostandard Bank AD Skopje from taking new risks, and without appropriate capital for their coverage, which would be to the detriment of depositors and creditors.
We inform the public that in relation to the untruths and defamations stated by the owners of Eurostandard Bank AD Skopje, within their appearances after the adoption of the Decision on revoking the license for founding and operating the Bank, the National Bank will use the available legal means for protection of its integrity.
Citizens should be calm - the banking system is and remains stable and reliable. All other banks, as well as the savings houses, are stable and reliable.
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