Sberbank Serbia Doubles Net Profit Achieving Its Best Result

Sberbank Serbia Doubles Net Profit Achieving Its Best Result

Sberbank Serbia recorded an increase in profitability of 84% and achieved a profit after tax of 802.9 million dinars as of YE 2017. Growing customer base, new partnerships, asset quality improvement, a significant increase of transaction business and fee income together with flat operating expenses were the main drivers of the result.

“It is a great pleasure for me that we can report top business results for 2017 for all segments of our business. By developing new, innovative and creative solutions in the field of digitization, we have once again proved that we are following the needs of our clients and keeping up with the latest global trends in banking”, said Marijana Vasilescu, Head of the Executive Board and CEO of Sberbank Srbija.

Key results achieved during 2017:

  • NPLdecreased significantly from3% in 2016 to 12.7% in 2017
  • The total amount of deposits from clients amounts to 70.4 billion dinars, which is an increase of 4.6 billion dinars
  • Customer’s loans amount to 73.9 billion dinars, with a significant improvement in the quality of the portfolio due to the reduction of non-performing loans (RSD 7.1 billion NPL decline in relation to 2016)
  • The share of the bank in the total foreign trade with Russia reaches 20%
  • The realized increase in net fee income is 41%
  • The balance amountis 116 billion dinars with a growth of almost 12%.

An extensive customer satisfaction survey conducted by Sberbank Srbija in 2017 underpinned a very high level of customer satisfaction. Six out of ten respondents are ready to recommend Sberbank’s services, making Sberbank Srbija the best bank on the Serbian market.