Business and owner of Eurostandard Bank Trifun Kostovski via a public statement says that the National Bank of Macedonia is a regulator, and not an inspector that imposes fines on the basis of inspection.
“Yesterday, October 19, 2020, the National Bank announced that Eurostandard Bank went bankrupt because it did not fulfill its legal obligation for recapitalization. Their statement confirms that not all Eurostandard Bank stabilization tools have been used. I would like to clarify – the National Bank is a regulator, which should regulate the financial flows in the country. The National Bank is not an inspector who imposes fines on the basis of inspection. In this case, the National Bank does not differentiate between the term regulator and inspector,” Kostovski said in a statement.
He adds that it is impossible for 6.5% of capital adequacy at the end of March 2020 to fall to 2% adequacy within 4.5 months, of which 3 months and 1 week were in the midst of a state of emergency.