Vojvodjanska Banka not negotiating about sale – Profit of EUR 2.4 million made in 2016

CEO of Vojvodjanska Banka, Marinos Vathis, says that the bank is not negotiating about sales, acquisitions or any sort of ownership changes at the moment.

Vathis said that Vojvodjanska Banka was open to all options depending on the changes in the market, but that it was focused at the moment on achieving its ambitious business plans. He confirmed that the bank had earlier talked to Eurobank on exchanging markets, but that the negotiations had not been successful, as well as that there had been talks with other commercial banks as well.

He also pointed out that Vojvodjanska Banka had had positive results in all segments in 2016 and that it had made profit for the fourth year in a row, amounting to RSD 301 million (EUR 2.4 million). He also said that the bank's assets had increased by RSD 5.6 billion and that they amounted to RSD 125.9 billion.

The bank's deposits, as he said, increased by RSD 6.2 billion, i.e. by 6.7% compared to 2015, whereas operating expenditures dropped by 4.2%. Vojvodjanska Banka reduced the share of NPLs in total loans from 19.3% in 2015 to 16.9% in 2016, and the coverage of these loans amounted to 73.7%.

The bank plans to increase return to equity by 10% by 2019 and to develop electronic banking.

Vojvodjanska Banka was acquired by the National Bank of Greece in 2006 and is now among the top 10 banks in Serbia looking by assets. It employs 1,468 people and has 1.2 million clients and 103 branch offices.

Vojvođanska banka a.d. Novi Sad

Eurobank Direktna a.d. Beograd

National Bank of Greece S.A. Grčka

Marinos Vathis

sale of Vojvodjanska Banka

Eurobank EFG

Vojvodjanska Banka profit

Vojvodjanska Banka assets

Vojvodjanska Banka deposits

non performing loans

electronic banking

National Bank of Greece