Vračar: EPCG could not collect the subordinated debt from Prva banka, but it withdrew four million

Elektroprivreda could not collect the subordinated debt of six million euros from Prva banka, but it raised a part of the term deposit of four million, the financial director of EPCG told "Vijesta" Miro Vračar.

The Central Bank forbade Prva Bank to repay this EPCG debt because it would lower regulatory capital requirements below the minimum, while the auditor was concerned that the bank's term deposit of 9,6 million was due to expire by the end of the year.

Vračar said that EPCG approached the bank on January 27 this year with a request to withdraw the subordinated debt, but that the bank informed them on May 17 that CBCG rejected the request.

"After the expiration date on August 2, a deposit of four million euros was withdrawn, and with that bank EPCG currently has a time deposit of four million that expires on August 2, 2024. On September 8, EPCG has 3,43 220 million, and XNUMX thousand euros in foreign currency," said Vračar.

He also said that it was only at their insistence from a member of the Supervisory Board of Prva Banka, who represents the capital of EPCG, that they were informed that the Shareholders' Assembly on August 25 adopted the report on operations for 2021 and the audit report.

Vračar said that they were then informed and that the auditor's report was submitted to the CBCG on August 26, after which it was published on its website. The legal deadline for sending reports is April 30.

It was explained to them that the selection of auditors was delayed due to the limited number of audit companies that can perform audits, as well as due to the application of a new regulation that shortened the deadline for submitting reports.

The CBCG duly published the reports of the auditors of the other banks, and as it previously announced, it did not accept the reasons for Prva Banka's delay, but imposed a fine on it.