By the end of 2019, Commercial Bank in Serbia expects a historically highest profit of 74 million euros, said Vladimir Medan, Chairman of the Bank’s Executive Board, in an interview for Blic.
“This year, Commercial Bank has proven that in conditions of ownership change it can grow and grow. In other words, Commercialn Bank will continue to operate at full capacity regardless of who owns it”, Medan said on the day of the deadline for submission of binding offers for sale of this largest state bank in Serbia. He recalled that in 2019, the bank had significant changes in ownership, the state purchased the stakes of three significant shareholders and became the owner of 83 percent of the bank’s capital, which simultaneously managed to grow and maintain all parameters of security and stability.
According to him, during the sale of the bank this year they managed to increase the level of foreign currency savings by 70 million euros, and in addition to increasing the productivity of workers by 20 percent in four years, they also increased the assets per employee by 18 percent. Medan believes it is realistic to expect the Euribor to enter a zero in two years, positive phase, or maybe even next year.
