Serbian Alta banka has raised its share capital by 3.16 billion dinars (approximately $29.5 million/€27 million) through a new share issuance. The bank issued 312,954 ordinary shares at a nominal value of 10,100 dinars each. This decision, approved at an extraordinary shareholders’ meeting in July, saw all new shares purchased by Alta Pay Group, the sole shareholder of Alta banka.
The additional funds are intended to support the bank’s regular operations and development plans. Earlier this year, Alta banka also increased its capital by 2.3 billion dinars through the issuance of Alta Pay shares.
As of August 6, the bank’s capital is divided into 957,718 shares. Alta banka’s shares were delisted from the Belgrade Stock Exchange in September 2023 following Alta Pay’s acquisition of 100% of the bank’s shares.
Alta banka, formerly known as Jubmes Bank, changed its name in 2020 after Alta Pay purchased the state’s 28.51% stake in Jubmes for €5 million. The bank, owned by Serbian businessman Davor Macura, operates nine branches in Serbia. In 2023, Alta banka reported a net profit of 1.1 billion dinars, a significant increase from 50 million dinars in 2022.
