Profit of banks in Serbia in first half of year 2008 - 262m EUR

- The banks in Serbia realized the profit before taxation in amount of 20.9 billion RSD (262.6m EUR) in the first half of the year, which is 57% more than in the same period in 2007 - National Bank of Serbia (NBS) announced.

Business bank registered net profit in amount of 43.8 billion RSD based on interests and fees, which is about 3% more than in the first six months last year.

The balance sum of the banking sector at the end of June reached 1,649 billion RSD, that is, 20.7 billion EUR. That is 2.1% more than at the end of the first quarter of this year, that is, 272 billion RSD or 20% more than in June 2007.

The capital of the banking sector in Serbia reached the amount of 397 billion RSD, that is, 5 billion EUR. The capital of banks in April, May and June grew by 32.6 billion RSD and it is 52% or 137 billion RSD larger than at the end of the first half of year 2007. There were 34 banks in Serbia at the end of June. Of that number, 26 banks registered positive, while 8 banks registered negative business results.

Of total number of banks in Serbia, 20 are majority owned by foreign stockholders, 6 banks are owned by local companies and citizens, while 8 banks are owned by the Republic of Serbia.

The organizational network of all banks encompassed 2,564 offices at the end of June, which is 78 more than at the end of the first quarter of this year.

The banking sector in Serbia had 31,331 employees at the end of June, which means that 2,056 new people got jobs in that sector over the past 12 months.