Miloš Vujnović, Executive Board Chairman, Jubmes Bank

Small, But Efficient

The ambitious vision of JUBMES Bank from the beginning of 2016, aimed at changing a negative trend and starting anew, to create value for shareholders, has been successfully realised over the previous two years, thus making the Bank stable, profitable and with good prospects for the period to come

Our clients recognise JUBMES Bank as a reliable business partner. Having a relatively small number of clients allows us, and moreover commits us, to dedicate ourselves fully to each client. Our Bank provides benefits of personalised services that are available to all clients

JUBMES Bank experienced several extremely difficult years, during which it was confronted by damaging business results. How have you managed to turn this negative trend around and consolidate your business operations?

– Our primary tasks were to ensure stabilisation, grow business activities and achieve better results, as well as reducing risks to which the Bank is exposed. Successful business operations and a reversal of the negative situation is reflected primarily through the achieving of extremely high growth in placements to clients, with a focus on attracting new clients, more efficiently utilising the Bank’s financial resources and resolving – to the greatest extent possible – the issue of non-performing loans accumulated in the earlier period. We recognised and took advantage of the positive macroeconomic trends reflected in companies’ increasing need for financial support, generated by the rising volume of business activities.

JUBMES Bank is fairly small and isn’t supported by strong international financial institutions as parents, which tend to react slowly to challenges and new requirements. Could this be viewed, in a certain sense, as an advantage on the Serbian market?

– The domestic banking market is characterised by high competition, significant segmentation, the withdrawal of certain groups and consolidation, as well as the emergence of new market participants. Reduced interest rates on banks placements, as well as reduced costs of financial resources, are unfavourable for banks that have a smaller market share.

In such market competition, JUBMES Bank’s advantages are our speed, efficiency and expertise. It is for this reason that our high-quality service is highly appreciated by our clients

On the other hand, the needs of market competition nevertheless enable us to find and efficiently maintain our market niche, owing to the Bank’s dynamism and adaptability, which is reflected in the results we have achieved.

Are you able to keep pace with modern banking trends like digitisation and online services? Will branches and services rendered “face to face” disappear in the near future, or are we still a long way from that happening?

Counters have already been consigned to the past when it comes to some required basic banking transactions. However, one of our principal competitive advantages is our expert consulting services and assistance to clients, aimed at identifying the best solution among a number of alternatives.

This is an entire process preceding the transaction’s execution, which demands experience, time and dedication. Your bank is so often a bridge connecting you and your most important life decisions, and for this reason “face to face” contact will continue to exist in the future, despite digitisation as a competitive process.

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