Best bank 2025: Raiffeisenbank
Raiffeisenbank has substantially reinforced its position as Serbia’s leading bank. In 2024, it saw a robust increase in mobile banking users, climbing from 401,000 to 470,000, alongside a surge in transactions from 14.9 million to over 20.2 million. This growth underscores the bank’s commitment to enhancing digital accessibility and efficiency for its customers.
The introduction of pioneering services like iAccount and iCash marks a technological leap for Raiffeisenbank. Launched in 2024, these services offer customers fully online account opening in 15 minutes using video identification, and the ability to secure personal loans. This initiative not only streamlines the banking process but also significantly enhances user experience.
Raiffeisenbank has also shown exceptional performance in supporting small and medium-sized enterprises (SMEs). In 2024, the SME segment recorded a profit increase of 19.5% year-on-year, reaching €58 million ($67.8 million). Additionally, gross income in this segment rose by 14.1% to €79.25 million, with deposits up by 13.8% to €819.8 million, evidencing robust business growth and an increasing trust among SME clients.
Innovation remains at the core of Raiffeisenbank’s strategy, exemplified by the initiation of an AI Transformation Programme in 2024. This included the deployment of internal bots and the establishment of a new AI Centre of Excellence, aimed at fostering innovation and operational efficiency across the bank’s functions.
Enhancements to the RaiPay wallet, coupled with the integration of GarminPay, led to over 100,000 downloads of the RaiPay application, which accounted for 20% of the bank’s card purchase volume in 2024, illustrating significant consumer adoption and preference for Raiffeisenbank’s digital payment solutions.
Collectively, these advancements reinforce Raiffeisenbank’s standing as Serbia’s best bank, driven by digital innovation, strong SME support, and cutting-edge technology deployment.
Best digital bank 2025: OTP Bank
OTP Bank takes the award as Serbia’s best digital bank. A particularly noteworthy innovation is Digital First, which revolutionised the banking experience by enabling the instant issuance of digital payment cards. This feature effectively eliminated the typical delays experienced with the physical delivery of cards, streamlining customer interactions significantly.
Further augmenting its user-friendly digital interface, OTP Bank achieved a notable increase in its mobile application’s rating, rising to 4.8. This improvement was largely due to the introduction of several user-centric features, including biometric logins for enhanced security, real-time notifications to keep users updated, and simplified transaction flows that ensure ease of use.
OTP Bank also launched the Junior mBank app, marking it as the first of its kind in Serbia tailored specifically for minors. This application merges financial education with practical functionality while incorporating parental oversight, thereby fostering financial literacy among the younger generation from an early age.
Additionally, OTP Bank significantly enhanced customer satisfaction, as evidenced by its service quality measurement index, which soared to 9.6. This was achieved by integrating full card management capabilities and dedicated account management features within the app, thereby enhancing overall service quality.
In pursuit of offering versatile and secure digital banking solutions, OTP Bank also introduced cloud certificate issuance and extended its banking services to Apple Watch users. This not only broadened the accessibility options for clients but also underscored the bank’s commitment to providing secure and flexible digital banking services.
These targeted enhancements and innovations underscore OTP Bank’s commitment to leading the digital transformation in Serbia’s banking sector, making it a deserving candidate for the accolade of Serbia’s best digital bank.
Best bank for ESG 2025: OTP Bank
OTP Bank has demonstrated a robust commitment to ESG standards: in 2024, OTP Bank made significant strides in its green finance initiatives, with its green loan portfolio expanding by over 60% year-on-year to reach €185 million ($216 million), which means the bank met 72% of its targeted goal for 2025.
In terms of reducing its environmental footprint, the bank successfully decreased its Scope 2 greenhouse gas emissions to 1,170 tonnes in 2024 from 1,307 tonnes in 2023. This reduction is supported by a decrease in energy intensity per employee to 20.4GJ in 2024 from 26.37Gj in 2022, reflecting efficient energy use practices across the organisation. The establishment of the Environmental and Social Management System (ESMS) in March 2024 further underscores OTP Bank’s systematic approach to incorporating ESG risks into its operational framework.
The bank rolled out several innovative sustainability initiatives in 2024. It launched the KintoJoin carpooling initiative, encouraging sustainable employee transport solutions. The bank achieved 100% renewable electricity coverage for all its branches, reinforcing its commitment to sustainable energy use.
On the governance front, OTP Bank introduced the ESG Change Management project, along with the Skill4U learning platform, ensuring that all employees are well versed in ESG principles through training and awareness raising.
These actions reflect OTP Bank’s comprehensive and proactive approach to ESG, highlighting its leadership in sustainable banking practices within Serbia.
