Erste's Serbian bank 2023 net profit surges to 51.2 mln euro

Net interest income rose 43% to 14.6 billion dinars in 2023, while net fee and commission income increased 8.5% to 3.6 billion dinars, the Serbian bank said in a statement.

Corporate loans increased 11% on the year to 123.6 billion dinars at the end of December, while corporate deposits increased 15% to 109 billion dinars in the period under review.

At the same time, the volume of household loans advanced by an annual 1.3% to 109 billion dinars at end-2023, while household deposits rose 10% to 145 billion dinars.

Erste Bank Novi Sad's total assets increased 7.6% on the year to 379 billion dinars at the end of last year.

The non-performing loan (NPL) ratio was 2.8% at end-2023, the statement said without providing a comparison with end-2022.

The network of the Serbian bank included some 87 offices across the country at the end of 2023.

Out of 20 active lenders in Serbia as of end-September, Erste Bank Novi Sad was the eighth largest bank in terms of assets, latest available central bank figures showed.

(1 euro = 117.202 dinars)