Serbia: Raiffeisen Bank Records a Profit of EUR 28.7 Million in 2006

30. März 2007, 00:00

Oliver Roegl, Chair of the Managing Board of Raiffeisen Bank in Serbia, announced told reporters Thursday that in...

Oliver Roegl, Chair of the Managing Board of Raiffeisen Bank in Serbia, announced told reporters Thursday that in 2006 the bank made a profit of EUR 28.7 million, which represents an increase of 38 per cent. He added that the total number of clients rose by 36 per cent and that at the end of 2006 it stood at 425,000.

According to him, Raiffeisen Bank opened 24 new branch offices in Serbia, which means that as of end-2006, it had a total of 67 points and added that the bank plans to increase the number of offices to 90 by the end of the year.

Roegl also pointed out that the bank’s market share in Serbia is 15 per cent and added that in 2006 the volume of deposits went up from EUR 409 million to EUR 548 million, which represents an increase of 34 per cent.

Svetozar Sijacic, a member of the Managing Board stated that the loans to citizens have increased from EUR 253 million to EUR 352 million, adding that the sector for small and medium-sized enterprises (SMEs) has increased its number of clients to 17,500 and that the credit portfolio exceeded EUR 144 million. He also pointed out that the number of issued visa cards exceeded 357,000 at the end of 2006.

According to Sijacic, in 2007 the bank plans to shorten the procedure for obtaining a loan and introduce mandatory insurance for all loans.

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