A backdrop of buoyant economic growth, falling unemployment and rising consumer confidence gave Serbia’s banks a welcome boost last year.
Strong demand for credit from both retail and corporate customers boosted overall lending by more than 9%, while continued efforts on bad debt sales and workouts bought the sector NPL ratio below 5% by the end of December.
The market also remained a focus for M&A in the awards period. OTP also added another string to its Serbian bow with the completion in September of the acquisition of Societe Generale’s subsidiary, less than two years after the Hungarian group’s acquisition of Vojvodjanska Banka.
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