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Serbia Banking Sector - 2015

  • April 2015
  • -
  • Emerging Markets Direct Media Holdings
  • -
  • 35 pages

The report covers developments in Serbia's banking sector over the period March 1, 2014 - April 10, 2015. It includes, among others, discussion of sector-level indicators, market news, as well as detailed financial information for the three largest banks - Banca Intesa Beograd, Komercijalna Banka Beograd and Unicredit Bank Srbija.

Serbia's central bank said on December 16 it has licensed for operations newly established Mirabank Belgrade, owned by Abu Dhabi-based Royal Group, paving the way for the first greenfield investment on the country's banking market in the past six years.

There was significant M&A activity in Serbia's banking sector. In December, global private equity firm Advent International and the EBRD have agreed to acquire the Balkan banking network of Austrian nationalised lender Hypo Alpe-Adria-Bank International. In January, state-controlled Telekom Srbija has acquired a majority stake in local lender Dunav Banka. In March, Turkish state-owned lender Halkbank signed a deal to acquire 76.7% of Serbian peer Cacanska Banka for EUR10.1mn.

In September, Telenor launched mobile banking in Serbia.

Banks covered in the report include, among others, Banca Intesa Beograd, Komercijalna banka Beograd, Unicredit Bank Srbija, Raiffeisen banka Beograd, Societe Generale banka Srbija, AIK banka Nis, Hypo Alpe-Adria-Bank Beograd, Banka Postanska stedionica Beograd, Cacanska banka Cacak, NLB banka Beograd, Srpska banka Beograd, Dunav banka Beograd, Telenor banka Beograd, and Mirabank Belgrade.

Key points:

oTotal gross assets of Serbia's commercial banking sector increased by 5.1% to RSD3.31 trillion (EUR27.4bn) at end-2014

oTotal loans to companies (excluding public enterprises) and households increased by a nominal 0.9% to RSD1.7 trillion at end-2014

oTotal corporate and household deposits increased by 9.6% to RSD1.61 trillion at end-2014

oThe ratio of NPLs in total loans (gross principle) was 22.5% in November

oThe capital adequacy ratio of Serbia's banking sector was 19.4% in November

Table Of Contents

Serbia Banking Sector - 2015

Regional Overview5

Bank deleveraging in CESEE slightly faster in Q3 2014 - Vienna Initiative report5

Serbia Banking Sector Structure6

Regulations, Policies and Governing Bodies8

Macroeconomic Overview9

Banking Sector Developments in 201410

Total assets up by nominal 5.1% in 201410

Corporate, household loans up 0.9% at end-201411

Serbian banks further tighten credit standards* for enterprises in Q4 - bank lending survey11

Corporate, household deposits up 9.6% at end-201412

Foreign assets rise, foreign liabilities drop at end-201412

NPL ratio at 22.5% in November13

Capital adequacy ratio at 19.4% in November13

Banks' pre-tax profit rises 23% y/y in Jan-Sep 201414

Market News16

Serbian businessman Miodrag Kostic buys additional 20% in AIK Banka for EUR27.4mn - press report16

Turkey's Halkbank signs deal to acquire Serbia's Cacanska Banka for EUR10.1mn16

Telekom Srbija acquires majority stake in Dunav Banka17

Advent, EBRD acquire Hypo's Balkan network17

Serbian c-bank licenses UAE's Royal Group unit Mirabank18

Serbia's Banka Postanska Stedionica says shareholders approve capital hike18

Serbian government prepares restructuring plan for troubled Srpska Banka19

Norway's B2Holding wraps up acquisition of EUR 169mn bad retail loans from Hypo's Balkan network20

Goldman Sachs may create fund to buy bad loans in Serbia - report20

EBRD provides EUR 200mn credit line to Serbia's Deposit Insurance Agency21

Telenor launches mobile banking in Serbia21

Slovenian lender NLB to reduce number of employees at Serbian unit22

IFC partners with APS Holding to purchase non-performing loans in eastern and southern Europe22

New premium levy on secured deposits in Serbia to cost banks EUR 50mn in 2014-2015 - Raiffeisen23

KfW approves EUR 20mn credit line to Societe Generale's Serbian unit to support agriculture projects24

Leading Market Players25

Banca Intesa a.d. Beograd25

Komercijalna Banka A.D. Beograd28

Unicredit Bank Srbija a.d. Beograd32

Comparative Matrix Top 3 Banks in Terms of Assets35

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