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.
Serbian President Aleksandar Vucic on March 14 stressed the importance of the US presence in the region, a controversial message given the opposition of many Serbs, especially the pro-Russian ... more
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