Societe Generale Serbia had a pre-tax profit of RSD 3.7 billion (EUR 29.9 million) in 2016, which is 80% more than in the previous year and the best result since the beginning of its operations in Serbia, the bank reported on April 25.
The consolidated profit, counting in related parties Sogelease Serbia and Societe Generale Insurance, amounted to RSD 3.8 billion (EUR 31 million), an increase of 73% compared to 2015.
The bank's consolidated balance increased by 3.7% to RSD 244.7 billion (EUR 1.98 billion) in 2016, whereas loans reached RSD 168.4 billion (EUR 1.4 billion), a growth of 3.6% compared to the previous year.
Retail loans grew by 11.6% and loans to small enterprises and entrepreneurs by 38%.
Societe Generale Serbia has been operating since 1991, as the first bank in Serbia featuring majority foreign capital. The founder is the French Societe Generale, which first opened an office in Serbia in 1977.