Source: Tanjug | Friday, 02.04.2021.| 09:11
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Raiffeisen Bank Not Excluding Possibility of Acquisition of Smaller Banks

(Photo: quka/shutterstock)
The banking market of Serbia is attractive for new investments, says the chairman of the Executive Board Raiffeisen Bank Belgrade, Zoran Petrovic, and doesn’t exclude the possibility of this bank’s buying a smaller bank from a large group, such as shows an interest in changing the owner.

Analysts expect that, once the negative consequences of the pandemic are summed up, the consolidation in the banking market of Central and Eastern Europe will be further stimulated and that there are smaller banks interested in changing an owner.

– Organic growth continues to be our priority. The country and the banking market are attractive for investments and I would not exclude that possibility – Petrovic said for the Svet bankarstva i investicija magazine when asked whether Raiffeisen Bank was interested in acquisitions.

Petrovic, who is also the chairman of the Managing Board of the American Chamber of Commerce in Serbia, says, that 63% of the AmCham members rate the business climate in Serbia as moderately satisfactory, which is the most frequent rating in the past five years.

– Serbia is good in attracting foreign investments, which reach up to 7% of the GDP. However, domestic private investments are important as well, and they are insufficient – Petrovic said.
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