Tag: Eurostandard
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...
Economy 14.08.20 | 14:10

VMRO accuses companies linked to SDSM of taking out loans in Eurostandard Bank before it collapsed

VMRO-DPMNE official Gordana Dimitrieska – Kocoska called the prosecutors to investigate which companies from Strumica, linked to the SDSM party, had non-performing loans with the collapsed Eurostandard Bank. The bank lost its licence on Wednesday, shocking the relatively stable banking sector in...
Economy 14.08.20 | 13:58

Central Bank insists that the banking system is stable despite the collapse of Eurostandard Bank

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...
Macedonia 14.08.20 | 13:51

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

Finance Minister Nina Angelovska withdrew her sizable deposit in the Eurostandard Bank in the first half of the year, as the bank was declining. Angelovska held a total of 250.000 EUR in the bank, way above the 30.000 EUR limit that is protected by the savings fund, and would have likely lost most of...
Economy 13.08.20 | 15:08

Collapse of Eurostandard Bank stops all financial transactions through the Macedonian Post Office

The Macedonian Post Office said that it is unable to do most of the usual services it offers t ocitizens, such as paying utility bills, paying out retirement incomes and welfare, after the Eurostandard Bank collapsed and lost its licence yesterday. The bank owned by oligarch Trifun Kostovski has an exclusive...
Economy 13.08.20 | 12:16

Authorities try to assure the depositors of the failed Eurostandard Bank

An incident was reported yesterday evening in Kavadarci when a man attempted to retrieve the money he has deposited in the Eurostandard Bank, that went under. Police had to be sent to defuse the situation. The bank, owned by oligarch Trifun Kostovski, who made his money in metal trading in the murky...
Economy 12.08.20 | 21:27

Dimitrieska Kocoska: Closure of Eurostandard Bank serious blow to over 55 thousand retirees and recipients of social welfare

The collapse of Eurostandard Bank is another major failure of the current government and a serious blow to the banking and financial sector, VMRO-DPMNE said on Wednesday. As the President of the Commission for material financial operations of VMRO-DPMNE, Gordana Dimitrieska Kocoska, pointed out, after...
Economy 12.08.20 | 18:47

Central bank closes Eurostandard, savers to to be compensated

The National Bank closed Wednesday bank Eurostandard AD Skopje due to its failure to meet the minimum operating criteria. National Bank Governor Anita Angelovska-Bezhoska told a press conference that the bank’s closure will not bring into question the stability of the banking system, while deposits...
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