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Our capital markets competence in Serbia

Our capital markets competence in Serbia

In the capital markets business, Erste Bank Serbia focuses on foreign exchange and money market products as well as hedging solutions for foreign exchange and interest rate risk

Erste Group in Serbia

Erste Bank a.d. Novi Sad is a bank focused on retail and SME business covering the territory of the whole country. The bank currently has 0.2 million clients and a network of 67 retail branches as well as 15 centres for corporate business. Erste Bank a.d. Novi Sad offers a wide range of financial products. In key product segments the bank’s current market share is nearly 3%. However, its position is considerably stronger in certain products, with some 5% of Serbian FX market , and 6% in Repo operations with the Serbian Central Bank 2008. The bank positions itself as a long-term partner of Serbia’s growing middle class.

Capital markets business in Serbia

In the capital markets business, Erste Bank Serbia focuses on foreign exchange and money market products. Furthermore, Erste Bank Serbia hedges foreign exchange and interest rate risks for corporate and institutional clients. As a client-oriented bank, Erste Bank Serbia concentrates on the individual needs of each client. Based on solid knowledge and experience, Erste Bank Serbia is a solid partner for both institutional and corporate clients.

Market insight Serbia

After period of strong growth in recent years, convergence process moderated during 2009 on depleting capital flows and domestic demand slump. Recovery is underway nevertheless dynamics are set to remain constrained by potential slowdown of global recovery and still struggling capital flows. External imbalances narrowed significantly during 2009 and while some deterioration is seen in upcoming years, they are expected to remain on manageable levels. External position is being supported by arrangement with IMF, also supporting fiscal discipline and structural reforms. Cooperation with ICTY in Hague still stalls the EU negotiations process, nevertheless in mid-term Serbia remains on track to become EU member state.

Filip Jelić

Head of Treasury

Erste Bank a.d. Novi Sad
Bulevar Mihajla Pupina 85B
11000 Belgrade
Tel.: +38 1(0)11201 – 5054


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