The Central Bank (NBRM) said that the Macedonian banking system is stable, despite the collapse of the Eurostandard Bank.

The NBRM Committee on financial stability met today to discuss the situation in the banking sector. NBRM revoked the licence of Eurostandard Bank on Wednesday, citing a long period of troubles the bank had. According to NBRM, the closing down of Eurostandard Bank actually increases the stability of the financial system.

NBRM points that the bank held 1.7 percent of total deposits and issued 1.6 percent of total credits in the economy, a big share of the latter being non-performing.

Finance Minister Nina Angelovska is under a corruption investigation after it was revealed that she withdrew a 250.000 EUR deposit in Eurostandard Bank before it collapsed.

Finance Minister Angelovska accused of using inside information to withdraw her large deposit in the now failed Eurostandard Bank