Goran Pitić, Chairman Of The Management Board Of Societe Generale Bank Srbija:

Digitisation Can Be Our Winning Ticket

An important precondition is perseverance and commitment to European integration, because that defines the quality of future operations and social arrangements, and in some way, provides a “guarantee” for operations in the future.

Goran Pitic

What can Serbia do to remain attractive to major players in the banking sector, at a juncture when it is difficult to expect high returns in the short term?

– As in other sectors, in the banking sector Serbia is leading a competitive game both with countries of the region and with the more developed countries of Europe. The moment at which that’s unfolding is unique and not at all simple. On the one hand, for many years now Europe has been marked by a trend of low rates of economic growth and interest rates, high levels of problematic loans in a higher number of countries, strict regulatory requirements, but also “imposes” a redefining of the business models of banks, with the constant demand of shareholders to raise operational efficiency, reduce costs and ensure adequate returns on capital (for several years already the return on capital in Serbia is among the lowest in the region).

The first requirement for attractiveness are sustainable, comparatively high GDP growth rates, with the raising of the investment potential of Serbia. This means raising competitive abilities, the level of attractiveness for investments, as well as the living standards of the population.

An important precondition is perseverance and commitment to European integration, because that defines the quality of future operations and social arrangements, and in some way, provides a “guarantee” for operations in the future.

Serbia can and must offer investors the most competitive topic today – the digital transformation of society

Likewise, it is also necessary to raise the administrative efficiency of the state: from the tax administration to courts, efficient implementation of the law, with which the predictability and transparency of operations is increased, and the scope for corruption reduced.

In a world of new technological revolutions, the strong development of banking and financial innovations, and the orientation of banks towards digital operations, Serbia can and must offer investors the most competitive topic today – the digital transformation of society. With this it would enter modern global trends of integration and significantly raise the level of attractiveness of its market.