Serbia: Erste Bank Planning an Increase in Market Share

30. März 2007, 00:00

Slavko Caric, the Deputy Chairman of the Managing Board of Erste Bank in Serbia, announced that in 2007 the bank plans...

Slavko Caric, the Deputy Chairman of the Managing Board of Erste Bank in Serbia, announced that in 2007 the bank plans to increase its market share from 1.5 to 3.2 per cent. He added that, by 2010, the bank plans to become one of the top five banks in the Serbian market, with a market share of 6 per cent.

Caric pointed out that, in 2007, 3 more commercial centres should be opened, in addition to the existing 13 and that in 2009 there should be 20 of them.

He added that the planned growth of Erste Bank in Serbia should be organic but he did not rule out the possibility of acquisitions, although he added that the bank is not currently considering that option.

Caric also announced that, from mid-2007, the bank would have a special member of the Board of Governors, who would deal with investment banking, which is an indication that the bank intends to get more involved in this form of banking and which would allow its clients to invest in investment funds and at the stock exchange.

Erste Bank operates in 10 countries in the region and has approximately 16 million clients. Toward the end of 2005, it became the majority owner in Novosadska Banka, which subsequently changed its name to Erste Bank.

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