Some Serbian banks have increased their profit by EUR 100 million in just one year

Last year was stressful for people in Serbia who took out loans. Interest rates were growing and loan instalments were becoming increasingly difficult to repay. On the other hand, banks did not have such worries, as some of them increased their earnings by almost 140 percent.

Out of all European countries, Serbia has the highest interest rates on housing loans. Also, prices of bank services also increased in the past year.

The analysis of the Nova.rs website shows that five large banks (OTP, Raiffeisen, Intesa, NLB Komercijalna and Erste) in Serbia made net profits that are measured in hundreds of millions of euros.

According to Nova’s analysis, Erste Bank increased earnings by almost 140 percent. In just one year, this bank increased its profit by as much as 137 percent, that is, from around 20 to 47.37 million euros (from 2.34 to 5.55 billion dinars).

Although it did not have the highest growth (expressed in percentages), Raiffeisen Bank generated the highest profit of all the banks. Namely, the financial report of Raiffeisen Bank shows that their net earnings in 2023 were an incredible 182.4 million euros (21.36 billion dinars), which is an increase of as much as 120 percent compared to 2021.

Furthermore, the financial report of NLB Komercijalna Bank shows that their net profit in 2023 amounted to about 128.6 million euros (15 billion dinars), which is an increase of about 80 percent compared to the year before, when this bank generated a profit of almost 71.5 million (8.37 billion dinars).

Banca Intesa’s financial report shows that the net profit at the end of last year was around 180 million euros (21 billion dinars), i.e. 66 percent more than in 2022.

The National Bank of Serbia limited the interest rates on housing loans last autumn and according to the estimates it presented at the time, this measure could have cost the banking sector around 120 million euros. However, it is obvious that the period of only a few months was too short to cause damage to the banks.

(Nova, 10.06.2024)

https://nova.rs/vesti/biznis/dok-su-gradjani-grcali-zbog-rata-kredita-banke-su-drasticno-uvecale-svoje-profite-nekima-dobit-skocila-i-za-100-miliona-evra/

This post is also available in: Italiano

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