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01. June 2016.
Vojvodjanska Banka presented its business results for Q1 2016
Trend of successful operations in Vojvodjanska Banka continued in this year. In the first quarter of 2016 Vojvodjanska Banka reached profit after taxes of RSD 111 million, which is RSD 177 million more than in the same period in the last year. Vojvodjanska Banka is among the top 10 largest banks in Serbia by asset size and has the status of a systematically important bank. With the fourth largest network in Serbia, four regional business centers and more than a million clients, the Bank covers the entire territory of the country.
The Bank managed to increase total assets for RSD 1.8 billion since December 2015 and currently has over RSD 122 billion. As a self-funded bank with a capital adequacy ratio safely above the regulatory threshold, the Bank focused on lending to small and medium-sized enterprises and retail operations. Confirmation of our strong liquidity is once again proved in our strong depositary base since our customer deposits are increased for RSD 2.4 billion or 2.6 percents since December 2015, thus allowing us to nurture growth of Bank’s future placements to clients. In the same time, our operating expenses are decreased for 5.5 percents as a result of a higher efficiency in all business segments.
The lending volume continued to grow with maintained market share of almost five percent in retail loans, with expectations for further growth in the current year. The NPLs ratio remained stable in the first quarter vs the previous quarter, well below market average, while provision coverage increased further by one percent, reaching 72 percents at the end of March 2016.
Vojvodjanska banka has been the official bank of the Olympic Committee of Serbia for already sixteen years, thus actively supports true values, the Olympic spirit and professional sport. In addition, the Bank has recently signed the Protocol on additional support to five Olympians who will represent our country at the Olympic Games in Rio 2016.
Special attention is paid to CSR activities. The Bank supports social inclusion of young people without parental care continuously and in 2016 we will give them even stronger and direct support and assistance with the aim to achieve more tangible results for these young people without parental care. We have become the general donor of the “Budi svoj” Project implemented by the foundation “Uključi se", while the Ministry of Labor, Employment, Veteran and Social Affairs is the Project’s strategic partner, and the Ministry of Youth and Sports has also given its support. In order for the young people without parental care to become more visible for the society as a whole, the “Budi svoj” Project aims to strengthen this group of young people through the educational part (trainings, practice, scholarships) and that they enter the adult world more prepared and with more education. The other important part of the Project pertains to employment, primarily self-employment, which will ensure economic independence and sustainability for these young people.