Tag: Eurostandard
Macedonia 20.10.20 | 09:34

Parliament will review SDSM party involvement in the collapse of the Eurostandard Bank

VMRO-DPMNE official Antonio Milososki announced that he will initiate a Parliament debate about the collapse of the Eurostandard Bank, which caused over 60 million EUR in damages. Bank owner Trifun Kostovski is openly accusing the ruling SDSM party of destroying his bank in order to divide credits to...

Macedonia Economy 19.10.20 | 14:41

Eurostandard owner says that his bank was destroyed in order to divide the money to companies linked to the SDSM party

Trifun Kostovski, the owner of the now bankrupt Eurostandard Bank, openly accused the ruling SDSM party of destroying his bank. Eurostandard was ordered to cease operations and placed under forced management by the NBRM Central Bank after years of mismanagement, for which Kostovksi now says that it was...

Macedonia Economy 16.10.20 | 17:44

Central Bank proposes charges against managers of the bankrupt Eurostandard Bank

The NBRM Central Bank announced it is proposing prosecutors file criminal charges against former managers of the Eurostandard Bank. The bank went bankrupt earlier this year after years of mismanagement and approving bad loans. NBRM said that it can’t reveal any more details about the nature of...

Economy 25.09.20 | 11:31

Kostovski: SDSM wants to privatize the Macedonian Post Office

Businessman Trifun Kostovski warned that the ruling SDSM party is planning to sell off the Macedonian Post Office. Kostovski’s Eurostandard Bank, which recently went under, had an exclusive contract to conduct payments through the 330 post office branches across the country, and he claims that...

Economy 03.09.20 | 17:07

Union representing 2,300 postal workers sounds the alarm after the Eurostandard Bank collapse

The union of the Macedonian Post Office is demanding an urgent meeting with Prime Minister Zoran Zaev, as 2,300 employees face to be left without pay or even fired. The post office heavily relies on the now bankrupt Eurostandard Bank, which had an exclusive contract to use the postal network for cash...

Macedonia 27.08.20 | 13:46

Eurostandard Bank was approving bad credits to real-estate developers linked with Zaev’s SDSM party

The Government and state prosecutors refuse to act in the Eurostandard Bank scandal, where companies linked to the Government were taking out credits with little or no collateral, said Gordana Dimitrieska – Kocoska from VMRO-DPMNE. Our information is that such credits were being given for the past...

Economy 24.08.20 | 14:55

VMRO demands an investigation into the politically linked companies who received credits from the failing Eurostandard Bank

Prosecutors need to investigate whether companies from Strumica, linked to the SDSM party, took up credits worth over 55 million EUR from the Eurostandard Bank, said Gordana Dimitrieska – Kocoska from VMRO-DPMNE. With the collapse of the bank owned by oligarch Trifun Kostovski, 200 million EUR...

Macedonia 24.08.20 | 14:27

Commission finds no criminal, only ethical violations in Finance Minister Angelovska’s actions regarding Eurostandard Bank

The State Anti-Corruption Commission (DKSK) will not recommend criminal charges against Finance Minister Nina Angelovska, who withdrew a large, 250,000 EUR worth deposit from the Eurostandard Bank before it collapsed. DKSK chief Biljana Ivanovska acknowledged that the Finance Minister had insider knowledge...

Economy 23.08.20 | 10:28

20,000 retirees were late in replacing their Eurostandard Bank accounts, and will not get their pensions on time

Only 30,000 retirees who were collecting their pensions through the Eurostandard Bank were able to switch to a different bank until Friday, which was the deadline given by the PIOM fund. That leaves 20,000 retirees who likely won’t be able to collect their pensions at the start of September, and...

Macedonia 22.08.20 | 15:16

Dimitrieska: SDSM needs to answer if the Eurostandard Bank collapse was postponed until politically linked companies withdrew their deposits

Gordana Dimitrieska – Kocoska asked whether the ruling SDSM party was deliberately delaying the unravelling of the troubled Eurostandard Bank until political insiders were able to collect their deposits. The bank, owned by oligarch Trifun Kostovski, collapsed last week plunging hundreds of depositors...

Economy 20.08.20 | 19:35

VMRO: Zaev’s statement adds another layer to the Eurostandard Bank scandal

Zoran Zaev’s comment that he was aware the Eurostandard Bank is troubled for a year is a major scandal, especially in light of the fact that Finance Minister Nina Angelovska withdrew her deposit from the bank, said the VMRO-DPMNE party in a press release. Angelovska withdrew her 250,000 EUR deposit...

Macedonia 19.08.20 | 13:49

A depositor reportedly lost 7 million EUR in the collapse of the Eurostandard Bank

24 Info reports that a businessman from Skopje lost seven million EUR in the collapse of Eurostandard Bank. The bank owned  by Trifun Kostovski went bankrupt last week after years of mismanagement, which Kostovski blames on his own directors who he says were working in favor of a hostile take-over. The...

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 17.08.20 | 15:29

VMRO demands an investigation into Government insiders who profited from the collapse of the Eurostandard Bank

VMRO-DPMNE called on the state prosecutors to investigate companies and individuals who withdrew their deposits from the Eurostandard Bank before it collapsed and who also took out credits from the bank – credits they may now try to avoid paying back. The bank owned by oligarch Trifun Kostovski...

Economy 17.08.20 | 15:18

Eurostandard Bank customers crowd other bank branches trying to migrate their accounts

Long lines are developing in front of Eurostandard Bank branches, but also in front of other banks, as citizens are trying to open new accounts. Eurostandard collapsed last week after a long period of mismanagement which owner Trifun Kostovski blamed on the top management he said were planning to weaken...

Macedonia 17.08.20 | 13:11

Finance Minister Nina Angelovska investigated for conflict of interest over her Eurostandard Bank deposit

The State Anti-Corruption Commission began an investigation into Finance Minister Nina Angelovska. Angelovska is heavily criticized after she withdrew her deposit of 250.000 EUR from the Eurostandard Bank before it collapsed, prompting allegations that she used the insider knowledge she received due...

Macedonia 16.08.20 | 20:32

Finance Minister Angelovska drained her Eurostandard account after it was publicly revealed by VMRO

VMRO-DPMNE spokesman Dimitar Arsovski revealed that Finance Minister Nina Angelovska first reported her new apartment two days after he publicl reported the purchase. Angelovska is in the center of a major controversy after it was revealed that she withdrew her significant deposit of 250.000 EUR from...

Economy 16.08.20 | 14:49

Dimitrieska: SDSM destroys another bank that could’ve been saved

The Eurostandard Bank could’ve been saved, but its collapse serves the interests of powerful banking groups, said Gordana Dimitrieska Kocoska from VMRO-DPMNE. According to Dimitrieska, the bank owned by oligarch Trifun Kostovski asked to be put under administration, but was refused by the NBRM...

Economy 16.08.20 | 12:12

Finance Minister Angelovska defends herself against allegations of insider trading

Finance Minister Nina Angelovska issued a press release to try and clarify the scandalous move in which he withdrew a large deposit from the Eurostandard Bank before it collapsed, which was apparently driven by the insider information she was receiving due to her position. Angelovska kept 250,000 EUR...

Economy 15.08.20 | 10:43

Central Bank denies allegations that it hid its decision on Eurostandard Bank to influence the elections and to give time to political insiders to withdraw their deposits

The Macedonian Central Bank (NBRM) responded after a leaked classified document shows it has stripped the troubled Eurostandard Bank of its licence as early as June 1, but kept the decision from the public. This prompted speculation that the move was hidden from the public in the sensitive pre-election...

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