Precedent in banking history of Serbia - Incomes from bank fees larger than incomes from interests

For the first time in the history of banking in Serbia, revenues from bank fees are larger than revenues from interests. In the third quarter of this year, in spite of the problems of insolvency and reduced consumption, banks turned a profit of 22 billion dinars.

Many experts find it unsustainable that the crisis in the economy is at its peak and that banks still register a growth of their profits. The reason for that is sought in low comparison base in 2009, as well as in an increase in margins and exchange rate differences to the detriment of physical persons.

By charging their fees to citizens, banks compensate for a delay in the repayment of loans by the economy sector. Each bank charges different fees so that the monthly fee for checking account maintenance ranges between 50 and 250 dinars, the fee for a warning that the payment is late amounts to 200 dinars, while a notice for a written check costs RSD 10. The fee for closing an account ranges between 160 and 360 dinars, the loan processing fee is between 0.5 and 3% of the loan, while the most expensive service is taking cash at ATMs with credit cards, the fee for which is 5%.

There are 33 banks in Serbia and some of them do not have a transparent list of fees. All that should be regulated by a new law on protection of consumers in 2011.