Russians in Serbia organize mutual aid after Alta Bank's license is revoked

The National Bank of Serbia has revoked the license of Alta, a commercial bank that was one of the few local lenders to open accounts for Russians who emigrated to Serbia. Many customers have lost access to their money: salaries, savings and funds for monthly expenses are frozen. Russian-speaking residents are responding with mutual aid.

What happened to the bank

Serbian authorities have promised to repay lost deposits of up to 50,000 euros once bankruptcy proceedings formally begin, which was expected on November 2. Local prosecutors are investigating why the bank collapsed soon after parliamentary elections, and suspicious transfers made through it in its last days. Its owner, businessman Davor Macura, has close ties to the leadership of the Serbian Progressive Party, which was in power until recently.

Aid efforts

Over the past weekend, Russian-speaking communities launched several initiatives. The Left Club of Serbia organized a collection for affected customers at the DC Loža club in Belgrade. The Telegram channel "Serbian Citizenship, Laws on Foreigners" announced drives in Belgrade, Novi Sad and Kragujevac. Volunteers are gathering food, diapers, baby food, pet food, household cleaning supplies and hygiene products.

Emigre communities are urging people to support venues and businesses run by Russian speakers, while owners try to open new accounts to pay taxes. A Serbian-language spreadsheet titled "Zajedno uz ruske biznise" ("Standing with Russian businesses") lists owners whom people can support by visiting and paying cash for services. Serbs are compiling it, and it reportedly includes only businesses vetted by moderators.

The Ark (Kovcheg), an organization that helps Russians abroad, joined local human rights advocates in appealing to the National Bank of Serbia. They demanded an end to discrimination against Russians on the basis of citizenship, a review of cases where accounts were refused without justification, and guarantees that Russian citizens with residence permits can open accounts.

Reaction in Serbia

In Telegram chats, people share stories of helping each other with groceries, and some say Serbian neighbors have expressed sympathy. On Serbian X, discussion is divided: some users sympathize, while others mock the Russians and question why they should feel sorry for emigrants over the collapse of a "mafia bank" linked to the former government. On October 29, posts with the slogan "Rusi napolje" ("Russians out") also appeared. It is unclear whether this is a coordinated campaign, but the Telegram channel Volna Serbia reported that pro-Vučić media were using it to accuse the Student List, which won the election, of preparing sanctions against Russia.

Russians in Serbia are explaining on social media why they left Russia and what difficulties they faced, and Serbian users are replying that they should keep writing.