Serbia's bank assets up 16.8% y/y in August.

By bne IntelliNews October 2, 2012
Serbia's banking sector assets growth decelerated to 16.5% y/y in August after rising 16.8% y/y in July, according to the consolidated balance sheet of the banking sector. The ratio of bank assets to projected GDP increased to 120% from 115.6% at the end 2011. Foreign assets continued the steady upward trend since the start of the year, rising 12.3% y/y in August. Domestic loans which represent the majority (57.6%) of bank assets went up 19.9% y/y to RSD 2,279.4bn (EUR 19.9bn) in August after increasing 18.9% in July. The strong growth in total loans was driven by both corporate sector and household lending. Loans to companies increased by 17.3% y/y, while household lending growth accelerated to 13.8% y/y in August from 12.7% in July. Deteriorating economic situation and rising NPLs (to 19.5% of gross loans in the second quarter) are likely to limit credit expansion.

Serbia's bank assets up 16.8% y/y in August.

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