Public Statement

A meeting to discuss the current situation in the Serbian banking sector, organized at the initiative of the Ministry of Finance, took place in the premises of the Association of Serbian Banks on 16 October 2008. Dr Slobodan Ilic, State Secretary at the Serbian Ministry of Finance, Mira Eric, Vice-Governor of the National Bank of Serbia, Dr Veroljub Dugalic, General Secretary of the Association of Serbian Banks and chairs of executive boards of banks participated in the discussion.

It was reiterated at the meeting that the banking sector in Serbia is solvent, liquid, safe and that the citizens and the corporate sector can trust it. The participants analyzed the future of banking operations and highlighted certain moves that need to be made. It was agreed to establish a permanent communication between the Ministry of Finance, National Bank of Serbia, Association of Serbian Banks and the banks, in order to continuously review the initiatives and proposals coming from the banking sector and to identify in a timely manner potential problems and related measures to be taken by competent institutions.

A meeting to discuss the current situation in the Serbian banking sector, organized at the initiative of the Ministry of Finance, took place in the premises of the Association of Serbian Banks on 16 October 2008. Dr Slobodan Ilic, State Secretary at the Serbian Ministry of Finance, Mira Eric, Vice-Governor of the National Bank of Serbia, Dr Veroljub Dugalic, General Secretary of the Association of Serbian Banks and chairs of executive boards of banks participated in the discussion.

It was reiterated at the meeting that the banking sector in Serbia is solvent, liquid, safe and that the citizens and the corporate sector can trust it. The participants analyzed the future of banking operations and highlighted certain moves that need to be made. It was agreed to establish a permanent communication between the Ministry of Finance, National Bank of Serbia, Association of Serbian Banks and the banks, in order to continuously review the initiatives and proposals coming from the banking sector and to identify in a timely manner potential problems and related measures to be taken by competent institutions.

A special emphasis was placed on the need to direct due attention to continuation of successful functioning of the banking sector, particularly in regard to retail and corporate loans, thus contributing to economic development and general stability of the country.

Having analyzed the current situation in the Serbian banking sector, the participants concluded that, due to adequate and timely efforts of the banks, Association of Serbian Banks, National Bank of Serbia and the Ministry of Finance, the current effects of the global financial crisis in Serbia are primarily psychological.