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 foreign debt rose an annual 4.7% y/y to EUR 25.4bn at end-February after climbing 6.6% on the year in January, central bank data showed. In monthly terms, however, the external ... more
Swedish company Ericsson said it has signed a five-year managed services contract with Vip Mobile - the Serbian arm of Telekom Austria Group. The agreement includes field maintenance services for ... more
Norwegian telecommunications firm Telenor and France's Societe General are seen as possible buyers of the Serbian unit of Belgium's KBC Group, which has been on sale for several years now, a ... more