By the close of the first quarter of 2024, the aggregate sum of loans extended to individuals and micro clients in Serbia saw a modest uptick of 0.4% from the preceding year’s end, reaching 109.71 billion dinars. Conversely, deposits from these sectors displayed a more notable increase, rising by 9.2% to reach 158.53 billion dinars compared to the conclusion of 2023.
Jasna Terzić, President of the Executive Board of Erste Bank a.d. Novi Sad, expressed confidence in the bank’s performance, citing a robust net profit of two and a half billion dinars by the end of the first quarter of 2024. This marked a notable 29.3% improvement over the same period in 2023, indicating the bank’s adeptness in navigating dynamic market conditions and its commitment to fostering enduring client relationships.
In contrast, loans to legal entities witnessed a 3.1% decline, totaling 119.68 billion dinars at the end of the first quarter of 2024. Similarly, deposits from legal entities experienced a slight decrease of 0.8%, amounting to 108.3 billion dinars compared to the previous year’s end.
Operationally, the bank demonstrated commendable performance, recording a 23.6% increase in operational revenues and a 5% rise in operational expenses compared to the same period in the preceding year. Notably, the operational result surged by 45.3% from the first quarter of 2023, reaching 2.71 billion dinars.
Moreover, interest income at the close of the first quarter of 2024 amounted to 3.97 billion dinars, marking a substantial 23.5% increase from the corresponding period in the prior year. Similarly, net income from fees and commissions rose by 22.6% to 0.99 billion dinars, underscoring the bank’s continued financial resilience and growth trajectory.
With a non-performing loan coefficient (NPL) standing at 2.7% by the end of the first quarter of 2024, Erste Bank also reported a 3.6% increase in active users of digital distribution channels compared to the previous year’s end, boasting approximately 174,000 active users of internet and mobile banking services. Additionally, the bank’s network comprised 87 business units as of the end of the first quarter of 2024.
