Tag: banks
Economy 15.04.22 | 20:06

Borrowers told to brace for impact after the Central Bank hiked its interest rate

After the Macedonian Central Bank announced it will increase its interest rate by 1.25 percent to 1.5 percent, the banking association warned its customers to get ready for an increase in the interest on their credits. Citizens need to look into their loan contracts with the banks so that they know whether...
Macedonia Economy 27.02.21 | 10:33

Stock market hit by Central Bank ban on payment of dividends by commercial banks

Shares of all major banks dipped in the Macedonian stock exchange yesterday after the Central Bank (NBRM) ordered them not to pay out dividends to their shareholders. The Central Bank explained this order, which also applies to insurance companies, with the need to preserve their liquidity in light of...
Macedonia Economy 16.10.20 | 19:22

Dimitrieska: Failed bond auction shows that the banks are losing trust in the Government

VMRO-DPMNE official and former Deputy Finance Minister Gordana Dimitrieska Kocoska asked the Government why is it silent on its recent failure to sell the entire planned bond issue. Dimitrieska said that only 12.5 million EUR of the total bond issue of 55 million were bought by domestic banks. Is this...
Economy 18.08.20 | 14:25

Fleeing Eurostandard Bank customers cause huge crowds in other banks across the country

Long lines in front of bank branches across the country persisted today, as customers from the failed Eurostandard Bank are trying to move their accounts elsewhere. Eurostandard collapsed after years of mismanagement, which its owner Trifun Kostovski blamed on his own managers, who he said weakened the...
Economy 03.07.20 | 20:05

Banks ready to pay welfare benefits

Banks are ready to pay social security checks and childcare financial assistance from Friday onward, according to the Macedonian Banking Association’s press release. Those with debit cards can make direct withdrawals as of now; others can pick up their checks at their local bank branches Monday. “Card...
Macedonia 27.04.20 | 09:36

Payment of pensions in stages starts at banks today

Today starts the payment of pensions at the banks in stages, according to the amount of the pension. For pensions up to 11,000 denars payment is today, for pensions from 11,001 to 14,000 denars, payment is tomorrow (Tuesday, April 28), for pensions from 14,001 to 18,000 denars payment is on Wednesday...
Economy 08.04.20 | 15:30

Citizens urged to go to the banks only when necessary

The NBRM Central Bank called on the public to restrict visits to banks to when they are absolutely necessary, after long lines began developing each day. Due to the curfew, elderly citizens are restricted to attending to their bank business in just two hours, between 10h and 12h. Regarding other customers,...
Macedonia 07.04.20 | 16:56

City of Kumanovo calls on the army to help manage crowds before banks, welfare centers..

The city of Kumanovo asked for help from the army to control the large crowds of people that gather in front of banks. The city was placed under a strict curfew over the weekend, and a similar regime goes into force tomorrow, after five dozen cases of the coronavirus were diagnosed. The way the weekend...
Economy 02.04.20 | 18:54

Oliver Spasovski warns commercial banks he can regulate them by decree if they don’t show solidarity

After the Government opted for a soft approach toward the banks, deciding to recommend that they postpone loan payments instead of ordering a grace period, interim Prime Minister Oliver Spasovski today said that the approach could be revised. He warned the banks that, if they don’t show solidarity...
Economy 01.04.20 | 13:54

Citizens and companies will face a pile of debt after the crisis is over, as banks will continue to compound interest

Macedonian banks who agree to postpone the payment of loan rates for up six months for their debtors will continue to calculate interest on the debt. This was confirmed today by Finance Minister Nina Angelovska, and it concerned citizens and companies who fear they will face a pile of debts once the...
Macedonia 19.03.20 | 15:44

Faced with nightmare scenario of thousands of retirees flocking together, banks looking at ways how to safely distribute pensions

Macedonia reaches a major new crisis point in the coronavirus epidemic at the end of the month, as retirees will expect to collect their pensions. With many of them being not exactly tech savvy, collecting the pension in person, from a bank teller, was the preferred method. That would also mean that...
Economy 29.03.19 | 11:38

Zaev calls on the banks to reduce their profits and interest rates

Zoran Zaev called on the Macedonian banks to reduce their interest rates to help spur the sluggish economy, depressed by his tax hike and inability to move forward with major capital investment projects. I strongly welcome the decision by the Central Bank to reduce its interest rate to 2.25 percent....

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