Raffeisenbank has maintained a consistent lead in Serbia and Montenegro among foreign-owned banks, since it was the first bank with 100% foreign capital to be established in the federation, in early 2001.
The past 12 months have been a success, with total assets growing in 2002 by 101%, and profit before tax growing by 111%. Staff numbers have also grown, and perhaps the biggest success of the bank has been in foreign direct investment, 52% of which is routed via Raffeisenbank. The bank is well poised to capitalize on any banking privatizations by the Serbian government, and on the chaos at the top of the Serbian banking sector, where several top banks were liquidated by the government.