Telenor bank opens - A total of EUR 40 m poured in the first mobile online bank in Serbia

Telenor bank, the first mobile online bank in the region, has opened today and now citizens will be able to use mobile application when paying for the services, sending or receiving money and perform exchange activities.

A total of EUR 40 m poured in the bank. The investment comprises process of takeover of KBC bank as well as financial support until the new bank reaches positive business result as well as procurement of information technologies and most modern ATMs.

New online bank does not have branch offices and to access it, it is necessary to download internet application. After that, you should sign a contract and then, over mobile phone, you can do all that you have been doing at the window.

Telenor bank, as it was said at today’s opening, focuses on daily citizens’’ transactions. At this moment, it is possible to open a multi-currency current account with non-contact debit MasterCard, exchange of funds at favorable exchange rates, sending money abroad and vice versa or any payment operation. je During September and October, every user will have 5% interest rate at the annual level for dinars at current account.

Telenor bank provided job for 130 people, 60 of which was taken over from KBC bank which Telenor acquired last year.

GM at Telenor Serbia, Uve Fredheim, said the company is thinking about introducing new services which will comprise short-term loans for citizens and credit cards.

As for now, the bank provides services only for citizens .

- Telenor bank enables citizens’ full control of personal finances and safe cash management while in the move, without queuing. All cash flow changes at the account are monitored at any moment and payments can be carried out with one click via mobile or online application - Martin Navratil, president of the Executive Board at Telenor bank, said.

The Minister of Finance, Dusan Vujovic, said he expects that this kind of a bank at the market will increase competition; decrease interest rates as well as that other banks will follow this example.

The bank was officially opened by the Minister of Finance, Dusan Vujovic, President and GM at Telenor Group, Jun Fredrik Baksas, GM at Telenor Serbia, Uve Fredheim and president of the Executive Board of the new bank, Martin Navratil.