PETROVIC: There are too many banks for Serbian market

Zoran Petrovic

- It is no longer a secret there are too many banks at Serbian market. For GDP of EUR 33-34 billion, 29-30 banks should be there – Petrovic said.

Competition, as he said, is high but statistically, every third bank has been generating losses.

That is, as he said, compared to other markets in the region and CEE, a few.

Petrovic estimated that in the upcoming period, despite new arrivals and investors, further banking sector consolidation is expected. – Market players with a low share and which have been generating poor results do not have perspective at this market – he said.