The number of overall bankruptcy procedures registered in Serbia since 1995 until April 1, 2013, reached 4,924, data published by Serbia's bankruptcy supervision agency showed. A total of 32 bankruptcy procedures were initiated in Serbia between January 1 and April 1, 2013, including active, suspended and closed procedures. It is worth noting that the number of bankruptcies registered in 2012 shrank 25% y/y to 980, signalling a gradual improvement in economic conditions. The reading, however, remained well above its per-crisis level of 149 in 2008.
The number of bankruptcy procedures has increased steadily since 2008 due to stringent economic and credit conditions. But corporate non-performing loans retreated to 19.5% at end-2012 from 22.4% the previous year also signalling a potential improvement in a trend that should be closely followed in 2013. Corporate non-performing loans reached 14.5% at end-2008. Central bank data show that sector-wise, the key NPL drivers were the mining and manufacturing and construction which accounted for around 40% of total bank claims on the corporate sector at the end of 2012.
Related Articles
Orban’s new illiberal axis
Amid the furore over Hungarian Prime Minister Viktor Orban’s visit to Tbilisi immediately after the allegedly stolen October 26 general election, a visit by the country’s President Tamas ... more
NBS proposes cap on interest rates
The National Bank of Serbia (NBS) unveiled a series of draft amendments to the country’s Banking Act on September 9, including a cap on interest rates, as part of broader efforts to bolster ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
11 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago