Excellent Results of Expobank in 2017
Belgrade, Serbia, 3.04.2018. - Expobank JSC Belgrade, today reported on the profit before tax in amount of EUR 15,5 million achieved in 2017.
Expobank JSC Belgrade, a wholly-owned subsidiary of Expobank CZ a.s. from Czech Republic. in first year of business operations at Serbian market, gained business income of EUR 23,5 million. In 2017, Expobank has been disbursed RSD 4,7 billion dinars (in comparison with 2016 it is increase of disbursements of 121,23%), mainly to medium enterprises oriented on cooperation with EU, Russia and Czech
Expobank's positive financial results in 2017 has been successfully conducted through organizational changes, revised business strategy, network reorganization, rebranding process. The positive trend is also continued in 2018.
"Thanks to implementation of new strategy, Expobank is highly capitalized and highly liquid, CAR is significantly improved and is 31,04% and NPL rate is decreasing and currently is 2,97%, regulatory capital is EUR 22,62 million. Increasing of business lending, improving of capital ratios and net interest margin combined with cost cutting achieved by optimisation of business processes, has enabled transformation Expobank JSC Belgrade from a loss-making business into a profitable Bank", said Mr. Borislav Strugarević, President of the Executive Board of Expobank.
Profile of Expobank JSC Belgrade
Expobank JSC Belgrade has been present in the Serbian market since 1990.
Expobank CZ, the majority owner of Expobank JSC Belgrade, became the first Czech bank to enter the Serbian market with the acquisition of Marfin Bank JSC Belgrade on 28 February 2017. The Bank has been operating under the brand Expobank JSC Belgrade since June 2017.
Expobank JSC Belgrade has 7 branches in 6 cities (Belgrade, Pančevo, Novi Sad, Šabac, Čačak, Niš) and 170 employees. The bank has total assets of over EUR 126,6 million and capital of over EUR 22,62 million, with a capital adequacy ratio of 31,04%