Source: Beta | Thursday, 11.06.2020.| 12:59
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Banks in Serbia make lower profit in 2019

Illustration (Photo: Africa Studio/
The banks in Serbia earned RSD 62.8 billion last year, which is around EUR 530 million, that is, EUR 60 million less than in 2018, Politika writes.

A broker from Momentum, Nenad Grujanicic, said that the banks' 2019 results were lower due to one-off effects such as the cost of addressing the issue of the debts in Swiss francs, as well as an increase in other expenditures.

This has also caused the return on equity of the banking sector to drop below 10% in nominal terms, making it lower compared to the previous years.

As for the shares in the market, the consolidation of the ownership of banks has continued, so now the first ten banks own 85% of the market, whereas, only a few years ago, those banks made up around 70% of the market.

There are currently 26 operational banks in Serbia.
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