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Tesla bank not facing bankruptcy, says Croatian Serb leader

SUBOTICA, April 2 (Hina) - Tesla Banka in Zagreb, in which Serbia and its northern province of Vojvodina have held a majority stake since 2011, is not facing bankruptcy but does need additional capital to continue operating, the chair of the bank's supervisory board and president of the Serb People's Council in Croatia, Milorad Pupovac, told Vojvodina Radio and Television on Tuesday.

He said the bank could still function, that it had reduced lending so as not to jeopardise liquidity, and that fresh capital was being injected into it.

Pupovac said the announcements that the bank might fold ignore the efforts being made in Croatia and abroad to bring fresh capital. He said an injection of EUR 10 million would be optimal but that Tesla Banka could function with less as well.

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