Source: Novosti | Wednesday, 25.04.2018.| 11:26
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Intesa not to buy new banks in Serbia – Company for equity fund management founded

(Photo: quka/shutterstock)
Banca Intesa is not planning to purchase a bank in Serbia, says Ignacio Jaquotot, Head of the International Subsidiary Banks Division at Intesa Sanpaolo.

Jaquotot says that the new business plan of Intesa Sanpaolo group for the period from 2018 till 2021 followed three strategic guidelines – considerable reduction of risk profiles, without expenses for shareholders, reduction of costs through a further simplification of the business model and an increase in revenues through recognition of new business opportunities.

– I believe that Banca Intesa, as the strongest bank in Serbia, with nearly 1.4 million clients and a market share of 17% in the total assets of the banking sector has a key role in providing support to the economic and social development of the country – Jaquotot says.

He also adds that they are very satisfied with the results of Banca Intesa and reminds that the bank had a net profit of EUR 98 million in 2017, up 21% from 2016.

Jaquotot also says that Banca Intesa recently founded Intesa Invest, an equity fund management company, and adds that “in the medium term, it seems reasonable to expect that the property management market in Serbia, which is currently modest in size, will grow at a sustainable pace”.

When it comes to the consolidation of the banking sector in Serbia, he believes that it will not be dramatic, as “Serbia is an attractive destination for foreign banking groups thanks to its being a natural bridge between East Europe and the Mediterranean”.
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