The Central Bank of Montenegro (CBCG) is assessing whether Alta Pay Group Podgorica continues to meet the regulatory conditions for operating as a payment institution, following the National Bank of Serbia’s revocation of Alta Banka’s banking licence.
The CBCG said its supervisory review had started before the Serbian decision and remained in progress. The regulator has not disclosed its findings or indicated whether any enforcement action against the Montenegrin company is being considered.
The National Bank of Serbia revoked Alta Banka’s operating licence, after supervisory examinations identified a significant deterioration in the bank’s financial position and liquidity, potentially putting depositors’ interests at risk.
The Serbian decision prompted questions about the implications for other financial businesses operating under the Alta name in the region. The CBCG clarified that Alta Banka was not authorised to conduct banking activities in Montenegro, with its banking operations limited to Serbia and North Macedonia.
Alta Pay Group Podgorica operates under a payment institution licence, not a commercial banking licence. Its authorised activities cover payment and money-transfer services, and it cannot accept customer deposits.
The CBCG said the Serbian regulator’s decision did not pose a threat to Montenegro’s financial stability. It also confirmed that it had taken measures within its supervisory powers to prevent risks to users of the Montenegrin payment provider’s services.
The regulatory distinction between banks and payment institutions concerns their permitted activities and the prudential and customer-protection requirements governing their operations. Payment institutions can process financial transfers without undertaking traditional deposit-taking and lending, but remain subject to supervision covering operational controls, regulatory compliance and the protection of customer funds. The ongoing review is intended to establish whether Alta Pay Group Podgorica continues to satisfy the requirements for maintaining its authorisation and providing payment services in Montenegro. The CBCG said procedural rules prevented it from disclosing further information about the checks.
The CBCG has not announced any withdrawal of Alta Pay Group Podgorica’s authorisation, nor has it publicly reported a finding of wrongdoing by the company.
The regulator maintained that Montenegro’s financial system remained stable and said it would inform the public of any significant developments. For customers, the key issue is whether the supervisory process could affect the availability, continuity or processing of payment and money-transfer services.
