Mergers of Greek banks in Serbia?
In Serbia, five state-owned banks hold a market share of 20%, four Greek banks have a 18.7% share, while the market share of somewhat over 17% is held by two Italian banks. For a market as small as Serbia, 14 banks is too much. As bankers underline, an unwritten rule is that one bank per million people is enough. This means that an optimal solution would be to have seven to nine banks operating in Serbia.
Arabs and Turks
Turkey's Halkbank has recently entered the market of Serbia by acquiring Cacanska Banka. Also, the UAE's Mirabank, which specializes in corporate services, has opened a branch office in our country. Neither of the two have so far had any media campaign that could at least give us a hint on what they offer to their clients and what moves they plan on making in order to obtain clients.
Figures
* 43 banks operated in Serbia 15 years ago
* 23,000 employees in the banking sector
* 20% of the market held by five state-owned banks
* 14 banks in our country operate successfully
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