The bank continues to bring new techniques to the local market in retail and corporate segments, including the launch of the country’s first custodian services for investment funds in 2007.
“The main focus in 2007 and 2008 was on acquiring new clients in the retail market segments, which brought us stable sources of financing and diversified revenue sources,” says CEO Gjorgji Jancevski. “We have strengthened our market presence by expanding our branch network, provided new tailored products for private customers, as well as microfinance and small and medium-sized enterprise services,” he adds.
Mr Jancevski expects the bank to fulfil its targets for 2008, but notes that Macedonia will not entirely escape the impact of the global financial crisis. “Although the Republic of Macedonia was not directly affected by the credit crunch and liquidity crises in the EU and US, indirect effects and forthcoming recession will influence the domestic market with declining activity, a more conservative approach and humbler future plans,” he says.
“Still, in this unforeseeable future, we’ll stay committed to our corporate values, providing stability for the bank through our conservative risk policy and maintenance of high structural liquidity, as well as high-quality services for our clients and optimal returns for the investors,” says Mr Jancevski.
