Banca Intesa awarded the Bank of the year in Serbia

The prominent financial magazine ‘the Banker’, part of the famous publishing house ‘Financial Times Group’, considering relevant success indicators, primarily financial results achieved,   awarded Banca Intesa the Bank of the Year in Serbia. This prestigious award for the most successful bank, at the award ceremony in London went to Ms. Draginja Đurić, President of the Executive Board of Banca Intesa.

„As the fist bank in Serbia we are pleased to have been acknowledged at the international level as well for the outstanding results we have achieved. This award presents the proof of our dynamic development and business success in a year behind us. It was reflected in high growth rates in all business segments, strong growth of balance sum and taking the leading market position among the fierce competition’, said Ms. Draginja Đurić.

‘The Banker’ magazine awards the title ‘the Bank of the Year’ each year to different regions, countries and categories. In addition to quantitative criteria such as balance sheet growth or profitability, the process of election was also led by the degree of development of modern technology and infrastructure, as well as the development of strategies oriented to future and their practicability.

During first nine months of 2008, despite numerous challenges set by growing competition, restrictive monetary policy and global financial crisis, the Bank still managed to reinforce its leading position and achieve excellent results in all business segments. With the net balance sum of EUR 3 bill, total corporate and retail loans reaching EUR 2 bill and deposits of EUR 1,8 bill,  Banca Intesa is on the top of the list of largest banks in the county.

Total corporate loans and advances amounting to EUR 1,5 bill make Banca Intesa one of the greatest creditors in the economy of Serbia. During the first nine months of 2008, the Bank achieved dynamic growth of corporate loans in the sum of EUR 564 m which is 62% more than relative to end-2007. Total corporate deposits at end-September peaked at  926 m  which is by 9% more than at end-2007. As for retail business operations Banca Intesa  is again leading in domestic market in savings from citizens which equal EUR 916 m and market share of 15%. Compared to end-2007, till the end of 3Q this year, deposits have increased by more than EUR 140 m, i.e. 15 %. Retail loans made a strong growth of 29%  to reach EUR 634 m.