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Bosnia's Bobar Banka goes into liquidation, licence revoked

Bosnia's Bobar Banka goes into liquidation, licence revoked

BANJA LUKA (Bosnia and Herzegovina), December 23 (SeeNews) – The banking agency of the Serb Republic said on Tuesday it has revoked the operating licence of local Bobar Banka [BANJ:BBRB-R-A].

The banking agency said in a statement it had approved the report of Bobar Banka’s interim management, which included a proposal for launching liquidation proceedings against the bank. The reasons were not elaborated.

Sava Sevaljevic was named as liquidation manager as of December 23.

The agency will repay all Bobar Banka's guaranteed deposits of up to 50,000 marka ($32,000/26,000 euro), it added.

Bobar Banka (www.bobarbanka.com) is based in Bijeljina, in the Serb Republic, which together with the Muslim-Croat Federation forms Bosnia and Herzegovina.

(1 euro=1.95583 Bosnian marka)

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