Postal Savings Bank responds: "The bank has never run out of cash"

"In response to information provided to the media by the Serbian Post concerning the availability of cash for pension payments, Banka Poštanska štedionica considers it necessary to draw public attention to facts omitted from those statements, which are essential to understanding how the pension payment system operates," the bank said in a statement.

According to the bank, it has never run out of the cash needed to ensure the regular operation of the branch networks of both institutions involved in the process.

"However, providing cash is only one part of the complex process of pension payments," the statement added.

The bank explained that another particularly demanding part of the process involves organising the distribution of cash through the Serbian Post's network of more than 1,700 payment locations across the country.

This requires timely planning of cash needs, allocation of funds, transport arrangements, monitoring of cash usage and ensuring that each payment location receives sufficient cash when needed.

"It is therefore unacceptable to create the public impression that cash availability at post office counters depends solely on the amount of money supplied by the bank, without explaining who is responsible for organising and managing that cash after it has been received," the bank said.

Serbian Post is also a shareholder in the bank

Banka Poštanska štedionica emphasised that the Serbian Post is not only a long-standing business partner but also one of its shareholders.

"We particularly wish to highlight a fact that makes this manner of public communication even more concerning: the Serbian Post is not only a long-standing business partner of Banka Poštanska štedionica, but also one of its shareholders.

"For this very reason, we expect the Serbian Post to demonstrate a particularly high level of institutional responsibility, professionalism and care when publicly communicating information that may affect the bank's reputation and its customers' trust," the statement said.

The bank argued that it was difficult to understand why an institution that is also a shareholder would publicly release information suggesting that the bank was failing to meet its obligations without explaining its own role and responsibilities in organising pension payments.

"Being a shareholder does not involve ownership rights alone. It also entails a responsible attitude towards the institution in which one holds a stake. Protecting its reputation, operational stability and customer confidence is in the shared interest of all shareholders," the bank stated.

Cash management requires planning and coordination

The bank stressed that cash management is a serious, complex and demanding responsibility.

It said that having sufficient funds available was not enough on its own. Institutions must also determine how much cash is needed, where and when it must be delivered, and how to ensure that citizens can access it.

Banka Poštanska štedionica said it demonstrates these capabilities daily through the management of its branch network and the continuous replenishment of ATMs, including at weekends, on public holidays and during periods of increased demand for cash.

"Last weekend, we organised 114 ATM replenishments on Saturday and nine on Sunday, maintaining network availability of 99.27%.

"This is the result of continuous monitoring, planning and the commitment of employees working beyond regular business hours," the bank said.

It added that organisational capabilities, timely planning and accountability were not secondary aspects of the pension payment system, but essential requirements for its proper functioning.

Responsibility must be established through facts, not media statements

The bank also criticised the practice of directing citizens to it for explanations about cash shortages at individual post office counters before establishing where any disruption in the distribution process may have occurred.

"It is particularly inappropriate to refer citizens to the bank for explanations about cash availability at individual post office counters without first determining which part of the process may have experienced a disruption.

"Responsibility is not established through media statements, but through facts, records of cash delivered and received, and clearly defined operational responsibilities," the statement said.

Banka Poštanska štedionica reiterated its commitment to cooperating with the Serbian Post but stressed that each institution involved must take full responsibility for the tasks within its authority.

"Our elderly citizens deserve secure, timely and dignified pension payments, not a public exchange of explanations that may create a misleading impression about the responsibilities of individual institutions," the bank said.

The bank maintained that it fulfils its obligations responsibly and professionally and expects the same level of organisation and accountability from all participants in the pension payment system.

It added that it expects even more from its shareholder, including responsibility for public statements and an awareness of their potential consequences.

"Providing cash is one thing. Organising its delivery to every payment location is another. Responsibility for one cannot be used to justify failures in the other," Banka Poštanska štedionica concluded.