Return on equity jumped to 18.6% from 11%, while non-performing loans eased from 4.56% down to 3.68%, and assets rose 55.5%, to €2.45bn.
The impressive performance has continued into 2008, according to the bank’s president Draginja Djuric. “Despite many challenges imposed by the global financial crisis, growing competition in the local market and a restrictive monetary policy of our central bank, the year that is drawing to a close will be known as the year when Banca Intesa solidified its leading role on the Serbian market,” she says.
“Aside from the strong growth in all operational segments, the fact that we are the bank that has the highest client satisfaction index, the bank that our clients trust and whose stability and reliability have never been questioned make us especially proud.”
The bank is now the country’s largest, with 12.5% market share of assets, which are well funded by a 14.3% share of deposits. Its position was further strengthened in 2007 when it became the first bank in Serbia to be granted a licence for online payment card processing, thereby pioneering e-commerce in the country.
“Although we expect a somewhat slower growth in the following period, I am convinced that thanks to the trust that our clients put in us and the support from our parent group – Intesa Sanpaolo – we are going to remain the strongest bank in Serbia, with an excellent position and impeccable reputation,” says Ms Djuric.
