The banking market of Serbia is attractive for new investments, says the president of the Executive Board of Raiffeisen Bank, Zoran Petrovic, and does not rule out the possibility that this bank will buy a smaller bank from a large group, which show interest in changing owners.
Analysts expect that after summing up the negative consequences of the pandemic, consolidation in the banking market of Central and Eastern Europe will be further encouraged and that there will be smaller banks interested in changing owners.
“Organic growth continues to be our priority. The country and the banking market are attractive for investment and I would not rule out such a possibility,” Petrovic told the World of Banking and Investment magazine, answering the question whether Raiffeisen Bank is interested in acquisitions.
Petrovic, who is also the president of the Board of Directors of the American Chamber of Commerce in Serbia, says that 63 percent of AmC ham members assess the business climate in Serbia as moderately satisfactory, which is the most common assessment in the previous five years.
“Serbia is good at attracting foreign investments that reach up to seven percent of GDP. However, domestic private investments that are insufficient are also important,” said Petrovic, Dnevnik reports.
