Elektroprivreda Srbije (EPS) informed customers via the June electricity bill that from next month, payments will no longer be made to the treasury account but instead to the current account of Alta Bank, owned by Davor Macura, a businessman close to the ruling Serbian Progressive Party. EPS has not provided an explanation or details about the contract with Alta Bank, and the commission fees or compensation for the bank remain unclear.
Financial flows and earnings
In the first quarter of 2025, EPS generated 46.2 billion dinars from electricity sales to households and 54.8 billion dinars from sales to businesses—funds likely to pass through Alta Bank going forward.
Since November 2023, Alta Pay (associated with Alta Bank) has profited as the intermediary for electronic electricity bill payments on EPS’s website and the “Bill Insight” app. EPS purchased the billing software and outsourced its management and hosting to Alta Pay without a public procurement process.
The app reportedly earns 28.77 dinars per transaction for Alta Pay. With around 720,000 app users early this year, if half pay through the app, Alta Pay could generate over 10 million dinars in commissions.
Alta Group’s state-related projects
Davor Macura, chairman of Alta Bank and owner of Alta Group, attracted attention after buying the IMT business complex in Belgrade for about €70.6 million in 2021.
Alta Group companies have secured various state and public sector projects, including financial services for Belgrade’s transport billing and incentives for hotel projects linked to the upcoming EXPO 2027.
Alta Bank also holds exclusive rights to place counters inside police stations.
