The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Serbia Best Bank: Intesa Beograd

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. Then in February, NLB Group agreed to buy number four player Komercijalna Banka from the Serbian government.

At the top of the sector, however, the story was one of stability. Market leader Banca Intesa Beograd turned in a strong financial performance backed by robust investment in technology, earning the Italian subsidiary the award for best bank.

A return on equity of 11.9% was 0.7 percentage points up on last year, boosted by an 11% expansion of the retail lending portfolio and record growth in housing loans. This was more than balanced by a 16.6%

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree