Banks in Serbia realized a profit exceeding RSD 60 billion (around half a billion euros) in 2017. This is a ten-year high, that is, the best result since the global economic crisis, and it was achieved despite a drastic drop in interest rates, Politika writes.
There has been a shift at the top of the list of the most profitable banks. The biggest profit, amounting to RSD 12 billion, was realized by AIK Bank. It nearly doubled its profit over a year`s period, rising from the fourth spot in 2016 to the top of the 2017 list.
Banca Intesa was dethroned after years of heading the list, placing second in 2017. This doesn`t mean that its earnings are lower, though. The financial reports show that it earned RSD 11.8 billion last year, which is a fifth more than 2016.
Komercijalna Banka is in the third spot, after heading the list of the banks with the biggest losses in the two preceding years. It is back to operating in the plus, with a profit of as much as RSD 8.1 billion. Let us remind that, in 2016, the bank operated with a loss in that amount.
The fourth place belongs to Societe Generale, which also increased its profit considerably, by as much as 83.37%, which enabled it to move one place up.
UniCredit Bank and Raiffeisen Bank had practically the same profit, RSD 6.6 billion.
Direktna Banka, which bought two small banks – KBM and Findomestic – and which is to integrate Piraeus Bank, also realized a high profit after the 2016 loss.
Another bank to move from the list of losers to the list of winners is Expo Bank, formerly Marfin Bank, which managed to earn RSD 1.8 billion last year.
Addiko Bank, successor of Hypo Alpe Adria Bank, also went from years of operating with losses to being profitable, turning a loss of RSD 1.2 billion in 2016 to a profit in the same amount in 2017, Politika writes.