Univerzal (2014), the outcome: depositors above the limit (individuals, sole traders, small and medium-sized companies) got almost everything back, about 96.5% of recognised claims, but only after 6 years 7 months to 7 years 4 months and with no interest for the years of waiting. The court distributed 100% to them in three parts (50%, 40% and 10%); the remaining 72.8 million dinars sit in AOD’s reserve.
Insurance up to the limit was paid quickly in all past cases where this is known: 1 to 7 days after the licence was revoked. ALTA takes longer: the licence was revoked on 30.10.2026 and the payout starts on 13.11.2026, 14 days later (AOD notice, 06.11.2026).
2012–2018: six banks, five transfers. In these years six banks lost their licences. In five cases the deposits were moved in full to another bank (to Nova Agrobanka, later to Poštanska štedionica). Official sources directly confirm that amounts above the limit moved too in four of the five cases: Agrobanka (National Bank notice: «не само осигурани, него укупни депозити», not only insured but all deposits), Nova Agrobanka and Razvojna banka Vojvodine (official and government statements), Privredna banka Beograd (a Ministry of Finance statement). For Jugbanka, amounts above the limit were not reported separately. The transfers were not free. The gap between the liabilities taken over and the assets was covered by the AOD deposit insurance fund or by the state with bonds. Three transfers went under Law 102/2012 (in force from 27.10.2012 to the end of 2014, only for state-controlled banks): Nova Agrobanka, Razvojna banka Vojvodine and Privredna banka Beograd. Agrobanka (May 2012) came before that law; Jugbanka (2018) went under an agreement between the two banks on the basis of a Government decision. The National Bank has not announced a transfer for ALTA. AOD pays the insured amount up to the limit through the paying bank Banka Poštanska štedionica (AOD, 03.11.2026), as with Univerzal banka in 2014.
Rank IV at Univerzal (under art. 17 of the old law, deposits of large legal entities; AOD’s lists also include individuals in it) had received about 17.5% by 06.2026, and the case is still open.
We found no lawsuits by depositors against AOD or the state for amounts above the limit.
What has been announced for ALTA is on the page Procedure and timeline: AOD pays the insured amount through the paying bank Poštanska (AOD, 03.11.2026), as it did for Univerzal in 2014. Univerzal is a guide, but only a guide: court deadlines, the size of the bankruptcy estate and the final percentages at ALTA may differ.
Univerzal: the licence was revoked on 31.01.2014, bankruptcy was opened on 03.02.2014 (case “1 St 19/2014”), the administrator is AOD. Claims recognised: 9,383 million dinars. The figures below are from AOD reports as of Q2 2026.
In bankruptcy creditors are divided into ranks: a lower rank is paid only after the higher rank has been paid in full, and within a rank everyone is paid in proportion to their claim (art. 54 of the Law on Bankruptcy).
Insured depositors. Up to €50,000: payout from 04.02.2014 through Poštanska, about €85 million. By the end of 2014, 97 to 98% of the amount due had been paid; the rest collected later (3-year deadline).
Rank I (individuals, sole traders, micro, small and medium-sized companies, amount above the limit; 1,748 claims). 2,087 million dinars recognised. By court decisions 100% was distributed: 50% (decision of 18.08.2020, paid from 09.2020, after 6 years 7 months), 40% (decision of 07.04.2021) and 10% (decision of 15.06.2021). About 96.5% has actually been paid; the other 72.8 million dinars are held in AOD’s reserve “for payment of remaining obligations”, and payment needs the creditor’s account details.
Ranks II and III (taxes, National Bank): 100%.
Rank IV (under the old law, only deposits of large companies): 6,525 million dinars recognised (per the distribution draft of 16.07.2020), about 17.5% paid.
Rank V (other creditors) and VI (subordinated debt): nothing.
The Univerzal case continues under the 2015 law (14/2015), but the order of ranks in cases opened under the old law 61/2005 is set by art. 17 of the old law (art. 33 of law 14/2015). Under it, rank IV holds only deposits of large legal entities, except those linked to the bank and bearer or code-word deposits; other deposits go to rank V. At ALTA, ranks follow the new art. 20 (Law 14/2015): the amount above €50,000 of insured depositors (individuals, sole traders, micro, small and medium companies) is in rank I (art. 20(1)), and rank IV takes the other deposits, except deposits of banks and other financial institutions (art. 20(4)). So Univerzal’s percentages do not carry over to ALTA.
Rank I claims in the list of the first distribution (draft of 16.07.2020): 1,748 claims, the median was 6,301 dinars (about €54), and 1,401 of them had less than 117,000 dinars (about €1,000). By July 2020, before any rank was paid, AOD had recovered all the insurance it paid out from the bank’s assets (distribution draft of 16.07.2020).
Money above the limit was paid to creditors who sent AOD their details themselves (a copy of the ID card, account number; heirs, documents proving succession).
Why the Univerzal case is still open after almost 13 years
On 30.06.2026 the bank’s remaining assets (the estate) were valued at 2,444.6 million dinars at liquidation value: cash 252 million, real estate 152 million, shares 409 million, money owed to the bank 313 million, claims from rent and reimbursement of costs 94 million, other 1,225 million. Procedure costs are about 35 million dinars a quarter; disputes over contested claims remain.
2002. Beogradska, Beobanka, Investbanka, Jugobanka. Payout in 7 days through Poštanska; individuals got their whole deposit back except the old foreign-currency savings. The Beogradska banka and Jugobanka bankruptcies are still open (24 years); Investbanka was closed in 2025 after 23 years. The money for the payout came from the state budget, not from a transfer of deposits (AOD monograph, pp. 40 and 59–60).
Agrobanka, 25.05.2012. The National Bank said on the day of the revocation (notice) that not only insured but all deposits were moved to the successor bank Nova Agrobanka. Bankruptcy closed by court decision in 2023 (AOD list); the remaining assets went to the owners of capital (AOD report, Q3 2024), so creditors were paid practically in full.
Nova Agrobanka, 27.10.2012. According to AOD, part of the liabilities, “including all deposits”, moved to Poštanska (AOD monograph, p. 63). The Government said Poštanska was taking over all insured and uninsured deposits (RTV). Access from 29.10 (National Bank notice). The gap (€281.4 million) was covered by the AOD deposit insurance fund, non-repayable (AOD report for 2013). Bankruptcy is still open: as of 30.06.2026 creditors had not yet been paid 956.1 million dinars: secured (separate-satisfaction) creditors 327.6 million, rank II 0.3 million, rank V 628.2 million (AOD report, Q2 2026).
Razvojna banka Vojvodine, 06.04.2013. The National Bank speaks of a transfer of “part of the assets and liabilities” (notice). According to the press, this was about 17.5 billion dinars of all deposits and about 70,000 depositors (Kurir). In 2015 the National Bank wrote about the transfer of insured and uninsured deposits (notice). Access from 08.04. The gap was paid by Serbia and Vojvodina (AOD report for 2013). In bankruptcy all creditors received 100%, and the remaining 1.47 billion dinars went to the owners of capital in 2024 (AOD report, Q3 2024). Bankruptcy about 11 years.
Privredna banka Beograd, 26.10.2013. The National Bank speaks of a transfer of “part of the assets and liabilities” (notice). According to the Ministry of Finance, all deposits, insured and uninsured, were transferred (Danas; also retold by UniCredit, web archive). Access from 28.10. The gap was covered by the Republic with bonds, about 11.16 billion dinars, non-repayable (AOD report for 2013). By 2025 all creditors, including subordinated debt, had received 100% (AOD report, Q3 2025). Bankruptcy about 12 years.
Univerzal banka, 31.01.2014. The only case in 2012–2018 without a transfer: AOD paid only the insured amount, the rest goes through bankruptcy (National Bank notice). According to the National Bank, unlike in earlier cases Poštanska only pays out the insured deposits (Politika). The 2012 transfer law applied only to state-controlled banks (art. 1, text of the law). The National Bank explained in its answer to Politika: «Univerzal banka je u privatnom vlasništvu, te se na nju nije mogao primeniti pomenuti Zakon o preuzimanju imovine i obaveza određenih banaka»: Univerzal was privately owned, so that law could not be applied to it.
Jugbanka, 02.04.2018. Poštanska took over the bank’s assets and liabilities under an agreement between the two banks, on the basis of a Government decision (National Bank notice); according to the National Bank, depositors used their accounts without interruption. Amounts above the limit were not reported separately. Who covered the gap is not visible from the documents. Bankruptcy about 5 years. Other creditors (not depositors) were left without payment on 8.69 billion dinars (AOD report).
From 2019 until ALTA (30.10.2026) there were no licence revocations.
Insurance limit: 5,000 dinars (about €60) until 2005, €3,000 from 2005 (Deposit Insurance Law, Official Gazette 61/05), €50,000 from 2008 (amendments, Official Gazette 116/08, National Bank); sole traders, small and medium-sized companies have also been insured since 2008 (AOD monograph).
Check it yourself: Univerzal documents
Below are the official AOD and court documents on Univerzal. They show when and how much was distributed and paid: by court decisions, rank I received 50% (08.2020), 40% (04.2021) and 10% (06.2021), and rank IV, by the balances in AOD’s reports, about 12.9% by the start of 2026 and about 4.5% more in Q1 2026, about 17.5% in total. Any document can be opened right here: under the title it says on which page and in which table to look for the figures. The documents are in Serbian. The recipient lists contain people’s names and addresses; we do not reprint them, look at the columns with amounts and percentages.
First partial distribution: draft decision
Rank I: 50% of the recognised claim, RSD 1,043.7 m in total.
Date
draft filed 16.07.2020; court decision 18.08.2020
Source
Official source PDF, 64 pp., 2.0 MB
What to look at
Page 4: the sentence on the percentage (“проценат намирења … би износио 50 %”) and the start of the table “Листа стечајних поверилаца I исплатног реда” (Lista stečajnih poverilaca I isplatnog reda). The “УКУПНО” (Ukupno) total line is on page 63. Files come in either Cyrillic or Latin script.
Table columns: “Утврђено потраживање” (Utvrđeno potraživanje) is the recognised amount; “Проценат намирења” (Procenat namirenja) is the share paid in this distribution; “Износ за исплату” (Iznos za isplatu) is what the creditor receives, in dinars.
What is what, on a real row without the name (claim no. 1 of rank I, an individual from Belgrade). The recognised amount is how much the bank owes the person above the insurance: RSD 2,127,615.15 (about €18,000), the same in all three documents. The percentage is the part of the whole debt paid this time: it is counted from the whole debt, not from what is left. The amount to be paid = debt × percentage. 2,127,615 × 50% = 1,063,807 (court decision of 18.08.2020); × 40% = 851,046 (07.04.2021); × 10% = 212,761 (15.06.2021); in total 100%, in dinars and without interest for the years of waiting. Like repaying €1,000 in three instalments: 500, 400 and 100. The list does not show how much was in the account in total: AOD paid the insured part separately, the list shows only what went through the bankruptcy.
Who is who: individuals have a name, city and address with no “МБ” or “ПИБ”; companies have a legal form (ДОО, АД, ЈКП) and “МБ: …, ПИБ: …”. Sole traders are not marked: they can only be guessed from a personal name with a “ПИБ” but no “МБ” (“СЗР”, a craft shop, appears rarely). The names in the table are real people. In Latin script “МБ” and “ПИБ” are written MB and PIB.
Page 4: the sentence on the percentage (“проценат намирења … би износио 40 %”) and the start of the table “Листа стечајних поверилаца I исплатног реда” (Lista stečajnih poverilaca I isplatnog reda). The “УКУПНО” (Ukupno) total line is on page 63. Files come in either Cyrillic or Latin script.
Table columns: “Утврђено потраживање” (Utvrđeno potraživanje) is the recognised amount; “Проценат намирења” (Procenat namirenja) is the share paid in this distribution; “Износ за исплату” (Iznos za isplatu) is what the creditor receives, in dinars.
What is what, on a real row without the name (claim no. 1 of rank I, an individual from Belgrade). The recognised amount is how much the bank owes the person above the insurance: RSD 2,127,615.15 (about €18,000), the same in all three documents. The percentage is the part of the whole debt paid this time: it is counted from the whole debt, not from what is left. The amount to be paid = debt × percentage. 2,127,615 × 50% = 1,063,807 (court decision of 18.08.2020); × 40% = 851,046 (07.04.2021); × 10% = 212,761 (15.06.2021); in total 100%, in dinars and without interest for the years of waiting. Like repaying €1,000 in three instalments: 500, 400 and 100. The list does not show how much was in the account in total: AOD paid the insured part separately, the list shows only what went through the bankruptcy.
Who is who: individuals have a name, city and address with no “МБ” or “ПИБ”; companies have a legal form (ДОО, АД, ЈКП) and “МБ: …, ПИБ: …”. Sole traders are not marked: they can only be guessed from a personal name with a “ПИБ” but no “МБ” (“СЗР”, a craft shop, appears rarely). The names in the table are real people. In Latin script “МБ” and “ПИБ” are written MB and PIB.
Rank I: the last 10%; ranks II and III: 100% each; rank IV: 2.90%. RSD 449.9 m in total.
Date
draft filed 25.05.2021; court decision 15.06.2021
Source
Official source PDF, 150 pp., 1.2 MB
What to look at
Page 4: the sentence on the percentage (“проценат намирења … би износио 10 %”) and the start of the table “Листа стечајних поверилаца I исплатног реда” (Lista stečajnih poverilaca I isplatnog reda). The “УКУПНО” (Ukupno) total line is on page 72. Files come in either Cyrillic or Latin script.
Table columns: “Утврђено потраживање” (Utvrđeno potraživanje) is the recognised amount; “Проценат намирења” (Procenat namirenja) is the share paid in this distribution; “Износ за исплату” (Iznos za isplatu) is what the creditor receives, in dinars.
What is what, on a real row without the name (claim no. 1 of rank I, an individual from Belgrade). The recognised amount is how much the bank owes the person above the insurance: RSD 2,127,615.15 (about €18,000), the same in all three documents. The percentage is the part of the whole debt paid this time: it is counted from the whole debt, not from what is left. The amount to be paid = debt × percentage. 2,127,615 × 50% = 1,063,807 (court decision of 18.08.2020); × 40% = 851,046 (07.04.2021); × 10% = 212,761 (15.06.2021); in total 100%, in dinars and without interest for the years of waiting. Like repaying €1,000 in three instalments: 500, 400 and 100. The list does not show how much was in the account in total: AOD paid the insured part separately, the list shows only what went through the bankruptcy.
Who is who: individuals have a name, city and address with no “МБ” or “ПИБ”; companies have a legal form (ДОО, АД, ЈКП) and “МБ: …, ПИБ: …”. Sole traders are not marked: they can only be guessed from a personal name with a “ПИБ” but no “МБ” (“СЗР”, a craft shop, appears rarely). The names in the table are real people. In Latin script “МБ” and “ПИБ” are written MB and PIB.
Further in the file: the lists for ranks II and III (100% each, the rank II total is on page 73) and rank IV (2.90%, the total is on page 149).
Rank IV: 2.30%, RSD 150.1 m in total. A proposal, not a court decision.
Date
draft filed 14.05.2024
Source
Official source PDF, 69 pp., 2.9 MB
What to look at
Page 5: point III, the sixth distribution: rank IV, 2.30%, RSD 150.1 m. This is the administrator’s proposal, not a court decision.
Pages 6 to 68: the table of rank IV creditors; the total is on page 68. Same columns: recognised amount, percentage, amount to be paid.
Who is who: individuals have a name, city and address with no “МБ” or “ПИБ”; companies have a legal form (ДОО, АД, ЈКП) and “МБ: …, ПИБ: …”. Sole traders are not marked: they can only be guessed from a personal name with a “ПИБ” but no “МБ” (“СЗР”, a craft shop, appears rarely). The names in the table are real people. In Latin script “МБ” and “ПИБ” are written MB and PIB.
What to send: an individual, a copy of the ID card, account number and phone; a company or sole trader, the registry extract and account number; heirs, documents proving succession.
Date
for the first payout, 2020 (cites the 18.08.2020 decision)
Source
Official source PDF, 1 p.
What to look at
One page: what a creditor must send in order to be paid.
An individual: a copy of the ID card, account number, phone. A company or sole trader: the registry extract, account number. Heirs: documents proving succession.
At the bottom: the address and contacts for sending the details (in writing).
Rank I: RSD 591.3 m paid in the quarter (the “paid” column of the table by rank).
Date
period 01.07–30.09.2020
Source
Official source PDF
What to look at
Page 3: the table “3г Готовински одливи – утврђена потраживања поверилаца према стечајном дужнику” (in the file it may be in Latin script: “3g Gotovinski odlivi …”) and in it the “I исплатни ред” (I isplatni red) row. The table may start low on the page, so scroll down.
Columns: claims at the start of the period; increase from hearings and interest accrual; “Исплаћена потраживања у извештајном периоду или смањење по основу окончаних парничних поступака”; balance at the end of the period.
The third column mixes payouts with reductions from concluded lawsuits. For rank I in 2020–2021 it is mostly payouts from the distributions.
Rank I: RSD 359.3 m paid in the quarter (the “paid” column of the table by rank).
Date
period 01.10–31.12.2020
Source
Official source PDF
What to look at
Page 3: the table “3г Готовински одливи – утврђена потраживања поверилаца према стечајном дужнику” (in the file it may be in Latin script: “3g Gotovinski odlivi …”) and in it the “I исплатни ред” (I isplatni red) row. The table may start low on the page, so scroll down.
Columns: claims at the start of the period; increase from hearings and interest accrual; “Исплаћена потраживања у извештајном периоду или смањење по основу окончаних парничних поступака”; balance at the end of the period.
The third column mixes payouts with reductions from concluded lawsuits. For rank I in 2020–2021 it is mostly payouts from the distributions.
Rank I: RSD 45.1 m paid in the quarter (the “paid” column of the table by rank).
Date
period 01.01–31.03.2021
Source
Official source PDF
What to look at
Page 2: the table “3г Готовински одливи – утврђена потраживања поверилаца према стечајном дужнику” (in the file it may be in Latin script: “3g Gotovinski odlivi …”) and in it the “I исплатни ред” (I isplatni red) row. The table may start low on the page, so scroll down.
Columns: claims at the start of the period; increase from hearings and interest accrual; “Исплаћена потраживања у извештајном периоду или смањење по основу окончаних парничних поступака”; balance at the end of the period.
The third column mixes payouts with reductions from concluded lawsuits. For rank I in 2020–2021 it is mostly payouts from the distributions.
Rank I: RSD 849.8 m paid in the quarter (the “paid” column of the table by rank).
Date
period 01.04–30.06.2021
Source
Official source PDF
What to look at
Page 2: the table “3г Готовински одливи – утврђена потраживања поверилаца према стечајном дужнику” (in the file it may be in Latin script: “3g Gotovinski odlivi …”) and in it the “I исплатни ред” (I isplatni red) row. The table may start low on the page, so scroll down.
Columns: claims at the start of the period; increase from hearings and interest accrual; “Исплаћена потраживања у извештајном периоду или смањење по основу окончаних парничних поступака”; balance at the end of the period.
The third column mixes payouts with reductions from concluded lawsuits. For rank I in 2020–2021 it is mostly payouts from the distributions.
Rank I: RSD 158.9 m paid in the quarter (the “paid” column of the table by rank).
Date
period 01.07–30.09.2021
Source
Official source PDF
What to look at
Page 2: the table “3г Готовински одливи – утврђена потраживања поверилаца према стечајном дужнику” (in the file it may be in Latin script: “3g Gotovinski odlivi …”) and in it the “I исплатни ред” (I isplatni red) row. The table may start low on the page, so scroll down.
Columns: claims at the start of the period; increase from hearings and interest accrual; “Исплаћена потраживања у извештајном периоду или смањење по основу окончаних парничних поступака”; balance at the end of the period.
The third column mixes payouts with reductions from concluded lawsuits. For rank I in 2020–2021 it is mostly payouts from the distributions.
Rank I: RSD 4.8 m paid in the quarter (the “paid” column of the table by rank).
Date
period 01.10–31.12.2021
Source
Official source PDF
What to look at
Page 2: the table “3г Готовински одливи – утврђена потраживања поверилаца према стечајном дужнику” (in the file it may be in Latin script: “3g Gotovinski odlivi …”) and in it the “I исплатни ред” (I isplatni red) row. The table may start low on the page, so scroll down.
Columns: claims at the start of the period; increase from hearings and interest accrual; “Исплаћена потраживања у извештајном периоду или смањење по основу окончаних парничних поступака”; balance at the end of the period.
The third column mixes payouts with reductions from concluded lawsuits. For rank I in 2020–2021 it is mostly payouts from the distributions.
Table 3г, rank IV: RSD 5,683.8 m at the start of the quarter, RSD 294.9 m paid in the quarter, RSD 5,388.9 m at the end.
Date
31.03.2026
Source
Official source PDF, 0.3 MB
What to look at
Page 2: the table “3г Готовински одливи – утврђена потраживања поверилаца према стечајном дужнику” (in the file it may be in Latin script: “3g Gotovinski odlivi …”) and in it the “I исплатни ред” (I isplatni red) row. The table may start low on the page, so scroll down.
Columns: claims at the start of the period; increase from hearings and interest accrual; “Исплаћена потраживања у извештајном периоду или смањење по основу окончаних парничних поступака”; balance at the end of the period.
The third column mixes payouts with reductions from concluded lawsuits. For rank I in 2020–2021 it is mostly payouts from the distributions.
The “IV исплатни ред” row: 5,683,831,037.49 at the start, 294,918,822.38 paid in the quarter, 5,388,912,215.11 at the end.
A table by rank: opening balance, change, payout and closing balance for the quarter. Rank I balance: RSD 72.8 m.
Date
30.06.2026
Source
Official source PDF, 0.3 MB
What to look at
Page 3: the table “3г Готовински одливи – утврђена потраживања поверилаца према стечајном дужнику” (in the file it may be in Latin script: “3g Gotovinski odlivi …”) and in it the “I исплатни ред” (I isplatni red) row. The table may start low on the page, so scroll down.
Columns: claims at the start of the period; increase from hearings and interest accrual; “Исплаћена потраживања у извештајном периоду или смањење по основу окончаних парничних поступака”; balance at the end of the period.
The third column mixes payouts with reductions from concluded lawsuits. For rank I in 2020–2021 it is mostly payouts from the distributions.
Same table: the rank I balance is RSD 72.8 m; rank IV has RSD 5,383.4 m left of 6,525.3 m recognised.