The Securities Commission of Serbia has approved a license for Alta Bank a.d. Belgrade to operate as an investment firm.
“This issuance of a license marks a significant milestone in the domestic financial market, as it is the first of its kind granted to a bank in over 12 years. This move opens up new opportunities for enhancing the competitiveness and stability of the financial sector in Serbia,” stated the Commission.
The expansion of Alta Bank’s operations into investment banking is expected to contribute to the further development of the capital market and provide clients with a broader range of financial products and services, according to Biznis.rs.
Recently, Nova ekonomija reported that the Austrian Financial Market Authority (FMA) imposed a fine of €154,560 on the domestic payment institution Alta Pay Group d.o.o., along with a penalty of €29,440 on another associated individual whose identity has not been disclosed.
