Erste Bank Serbia

Erste Serbia's net profit rose 25.0% to RSD 2,622 mil in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia made a net profit of RSD 2,622 mil under revenues of RSD 8,653 mil in 2017, up 25.0% and 7.07% respectively compare...

Erste Serbia's npls (as % of loans) fell 53.0% to 3.07% in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia's non-performing loans reached 3.07% of total loans at the end of 2017, down from 6.52% compared to the previou...

Erste Serbia's employees rose 5.29% to 1,075 in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia employed 1,075 persons in 2017, up 5.29% when compared to the previous year. Historically, the bank's workforc...

Profit Statement 2015 2016 2017
Net Interest Income RSD mil 5,269 5,921 6,354
Fee Income (As % Of Revenues) % 22.0 18.4 17.4
Other Income RSD mil 576 677 793
Total Revenues RSD mil 7,494 8,082 8,653
Staff Cost RSD mil 1,647 1,870 2,006
Operating Profit RSD mil 2,614 2,815 2,881
Provisions RSD mil 1,397 606 0
Net Profit RSD mil 1,189 2,098 2,622
Balance Sheet 2015 2016 2017
Interbank Loans RSD mil 2,733 1,210 2,199
Customer Loans RSD mil 79,044 96,463 110,473
Debt Securities RSD mil 18,818 28,866 32,313
Total Assets RSD mil 117,488 148,107 168,265
Shareholders' Equity RSD mil 16,000 18,254 21,060
Interbank Borrowing RSD mil 30,282 51,428 51,859
Customer Deposits RSD mil 68,295 75,291 91,982
Issued Debt Securities RSD mil 1,825 1,765 1,355
Ratios 2015 2016 2017
ROE % 7.74 12.3 13.3
ROA % 1.09 1.58 1.66
Costs (As % Of Assets) % 4.47 3.97 3.65
Costs (As % Of Income) % 65.1 65.2 66.7
Capital Adequacy Ratio % 17.2 15.6 17.3
Net Interest Margin % 4.82 4.46 4.02
Loans (As % Of Deposits) % 116 128 120
NPLs (As % Of Loans) % 7.95 6.52 3.07
Provisions (As % Of NPLs) % 115 102 121
Growth Rates 2015 2016 2017
Total Revenue Growth % 11.1 7.85 7.07
Operating Cost Growth % 1.89 7.92 9.59
Operating Profit Growth % 33.8 7.71 2.34
Net Profit Growth % 397 76.4 25.0
Customer Loan Growth % 23.3 22.0 14.5
Total Asset Growth % 16.4 26.1 13.6
Customer Deposit Growth % 10.9 10.2 22.2
Shareholders' Equity Growth % 8.56 14.1 15.4
Employees 1,027 1,021 1,075

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summary Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                          
Net Interest Income RSD mil             3,958 4,167 4,470 4,658 5,269    
Total Revenues RSD mil             10,512 12,373 6,430 6,743 7,494    
Operating Profit RSD mil             1,666 1,961 2,118 1,953 2,614    
Net Profit RSD mil             789 1,250 1,059 239 1,189    
balance sheet                          
Interbank Loans RSD mil             13,642 7,170 13,417 3,899 2,733    
Customer Loans RSD mil             50,935 61,509 57,339 64,116 79,044    
Debt Securities RSD mil             6,174 6,800 9,164 15,159 18,818    
Total Assets RSD mil             72,077 80,690 97,582 100,955 117,488    
Shareholders' Equity RSD mil             12,051 13,299 14,359 14,738 16,000    
Interbank Borrowing RSD mil             17,431 20,220 13,729 21,521 30,282    
Customer Deposits RSD mil             47,327 41,811 64,904 61,603 68,295    
Issued Debt Securities RSD mil             0 3,873 3,656 2,064 1,825    
ratios                          
ROE %             6.77 9.86 7.66 1.65 7.74    
ROA %             1.18 1.64 1.19 0.241 1.09    
Costs (As % Of Assets) %             13.2 13.6 4.84 4.83 4.47    
Costs (As % Of Income) %             84.2 84.1 67.1 71.0 65.1    
Capital Adequacy Ratio % ... ...         24.4 21.3 21.0 19.8 17.2    
Net Interest Margin %             5.90 5.46 5.01 4.69 4.82    
Interest Income (As % Of Revenues) %             37.7 33.7 69.5 69.1 70.3    
Fee Income (As % Of Revenues) %             13.6 13.1 26.4 26.2 22.0    
Staff Cost (As % Of Total Cost) %             16.6 15.3 37.6 35.4 33.7    
Equity (As % Of Assets) %             16.7 16.5 14.7 14.6 13.6    
Loans (As % Of Deposits) %             108 147 88.3 104 116    
Loans (As % Assets) %             70.7 76.2 58.8 63.5 67.3    
NPLs (As % Of Loans) % ... ...         10.2 10.4 13.0 10.8 7.95    
Provisions (As % Of NPLs) % ... ...         95.8 91.8 88.9 98.0 115    
income statement Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                          
Interest Income RSD mil             5,873 6,514 7,333 6,910 6,772    
Interest Cost RSD mil             1,915 2,347 2,864 2,251 1,504    
Net Interest Income RSD mil             3,958 4,167 4,470 4,658 5,269    
Net Fee Income RSD mil             1,429 1,624 1,696 1,764 1,650    
Other Income RSD mil             5,125 6,581 263 321 576    
Total Revenues RSD mil             10,512 12,373 6,430 6,743 7,494    
Staff Cost RSD mil             1,468 1,595 1,619 1,693 1,647    
Depreciation RSD mil             172 212 246 274 257    
Other Cost RSD mil             7,205 8,604 2,446 2,823 2,976    
Operating Cost RSD mil             8,846 10,411 4,311 4,790 4,880    
Operating Profit RSD mil             1,666 1,961 2,118 1,953 2,614    
Provisions RSD mil             883 887 993 1,829 1,397    
Extra and Other Cost RSD mil             0 -1.98 0 < 0.001 0    
Pre-Tax Profit RSD mil             783 1,076 1,125 124 1,216    
Tax RSD mil             -7.47 -179 65.7 -104 26.9    
Minorities RSD mil             0 0 0 -11.1 0    
Net Profit RSD mil             789 1,250 1,059 239 1,189    
growth rates                          
Net Interest Income Growth % ...           28.1 5.28 7.26 4.21 13.1    
Net Fee Income Growth % ...           18.5 13.6 4.47 4.00 -6.50    
Total Revenue Growth % ...           24.3 17.7 -48.0 4.88 11.1    
Operating Cost Growth % ...           19.5 17.7 -58.6 11.1 1.89    
Operating Profit Growth % ...           57.7 17.7 7.99 -7.78 33.8    
Pre-Tax Profit Growth % ...           147 37.4 4.56 -89.0 879    
Net Profit Growth % ...           148 58.4 -15.3 -77.4 397    
market share                          
Market Share in Revenues %             6.38 7.31 3.95 3.86 4.08    
Market Share in Net Profit % ... ...         63.1 10.7 ... 10.5 16.0    
Market Share in Employees % ...           3.38 3.50 3.68 3.95 4.23    
Market Share in Branches % ... ...         1.89 2.05 2.31 2.63 2.72    
balance sheet Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                          
Cash RSD mil             4,232 7,370 16,105 15,906 18,523    
Interbank Loans RSD mil             13,642 7,170 13,417 3,899 2,733    
Customer Loans RSD mil             50,935 61,509 57,339 64,116 79,044    
Retail Loans RSD mil             19,692 22,075 23,867 26,824 30,659    
Mortgage Loans RSD mil ... ... ... ... ... ... ... ... ... ... ...    
Consumer Loans RSD mil ... ... ... ... ... ... ... ... ... ... ...    
Corporate Loans RSD mil             31,244 39,434 33,472 37,292 48,385    
Debt Securities RSD mil             6,174 6,800 9,164 15,159 18,818    
Fixed Assets RSD mil             763 901 1,119 1,105 733    
Total Assets RSD mil             72,077 80,690 97,582 100,955 117,488    
Shareholders' Equity RSD mil             12,051 13,299 14,359 14,738 16,000    
Of Which Minority Interest RSD mil             0 0 0 43.1 0    
Liabilities RSD mil             60,026 67,391 83,223 86,218 101,488    
Interbank Borrowing RSD mil             17,431 20,220 13,729 21,521 30,282    
Customer Deposits RSD mil             47,327 41,811 64,904 61,603 68,295    
Retail Deposits RSD mil             18,681 22,540 27,265 32,679 36,207    
Corporate Deposits RSD mil             28,646 19,271 37,639 28,924 32,088    
Issued Debt Securities RSD mil             0 3,873 3,656 2,064 1,825    
Other Liabilities RSD mil             3,401 1,487 933 1,031 1,086    
asset quality                          
Non-Performing Loans RSD mil ... ...         5,200 6,383 8,455 7,732 6,909    
Gross Loans RSD mil             50,935 61,509 64,859 71,689 86,956    
Total Provisions RSD mil             4,982 5,861 7,520 7,573 7,912    
growth rates                          
Customer Loan Growth % ...           6.17 20.8 -6.78 11.8 23.3    
Retail Loan Growth % ...           16.9 12.1 8.12 12.4 14.3    
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ...  
Consumer Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ...  
Corporate Loan Growth % ...           0.355 26.2 -15.1 11.4 29.7    
Total Asset Growth % ...           16.0 12.0 20.9 3.46 16.4    
Shareholders' Equity Growth % ...           7.03 10.4 7.97 2.63 8.56    
Customer Deposit Growth % ...           42.3 -11.7 55.2 -5.09 10.9    
Retail Deposit Growth % ...           18.1 20.7 21.0 19.9 10.8    
Corporate Deposit Growth % ...           64.2 -32.7 95.3 -23.2 10.9    
market share                          
Market Share in Customer Loans %             2.56 2.73 2.60 2.69 3.14    
Market Share in Corporate Loans %             3.07 3.52 3.30 3.84 4.87    
Market Share in Retail Loans % ... ... ... ... ... ... ... ... ... ... ...    
Market Share in Consumer Loans %             3.27 3.38 3.54 3.70 4.04    
Market Share in Mortgage Loans % ... ... ... ... ... ... ... ... ... ... ...    
Market Share in Total Assets %             2.48 2.55 3.10 3.05 3.43    
Market Share in Customer Deposits %             3.41 2.73 4.07 3.59 3.73    
Market Share in Retail Deposits %             2.18 2.28 2.67 2.98 3.20    
Market Share in Corporate Deposits %             6.77 4.46 8.77 5.78 5.57    
ratios Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                          
ROE %             6.77 9.86 7.66 1.65 7.74    
ROA %             1.18 1.64 1.19 0.241 1.09    
Costs (As % Of Assets) %             13.2 13.6 4.84 4.83 4.47    
Costs (As % Of Income) %             84.2 84.1 67.1 71.0 65.1    
Capital Adequacy Ratio % ... ...         24.4 21.3 21.0 19.8 17.2    
Net Interest Margin %             5.90 5.46 5.01 4.69 4.82    
Interest Spread % ...           5.30 4.84 4.42 4.30 4.60    
Asset Yield %             8.75 8.53 8.23 6.96 6.20    
Cost Of Liabilities % ...           3.45 3.68 3.80 2.66 1.60    
Interest Income (As % Of Revenues) %             37.7 33.7 69.5 69.1 70.3    
Fee Income (As % Of Revenues) %             13.6 13.1 26.4 26.2 22.0    
Other Income (As % Of Revenues) %             48.8 53.2 4.10 4.76 7.68    
Cost Per Employee USD per month ...           1,688 1,522 1,630 1,553 1,265    
Cost Per Employee (Local Currency) RSD per month ...           123,832 133,872 138,818 142,243 133,630    
Staff Cost (As % Of Total Cost) %             16.6 15.3 37.6 35.4 33.7    
Equity (As % Of Assets) %             16.7 16.5 14.7 14.6 13.6    
Loans (As % Of Deposits) %             108 147 88.3 104 116    
Loans (As % Assets) %             70.7 76.2 58.8 63.5 67.3    
NPLs (As % Of Loans) % ... ...         10.2 10.4 13.0 10.8 7.95    
Provisions (As % Of NPLs) % ... ...         95.8 91.8 88.9 98.0 115    
Provisions (As % Of Loans) %             9.78 9.53 13.1 11.8 10.0    
Cost of Provisions (As % Of Loans) %             1.79 1.58 1.67 3.01 1.95    
other data Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                          
Branches ... ...         45.0 46.0 46.0 47.0 47.0    
Employees ...           988 993 972 992 1,027    

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Erste Serbia's customer loans rose 14.5% to RSD 110,473 mil in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia's customer loans reached RSD 110,473 mil in 2017, up 14.5% compared to the previous year. Serbian banking sector provided customer loans of RSD 2,702 bil in 2017, up 1.16% when compared to the last year. Erste Bank Serbia accounted for 4...

Erste Serbia's customer deposits rose 22.2% to RSD 91,982 mil in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia's customer deposits reached RSD 91,982 mil in 2017, up 22.2% compared to the previous year. Serbian banking sector accepted customer deposits of RSD 2,111 bil in 2017, up 3.62% when compared to the last year. Erste Bank Serbia accounted ...

Erste Serbia's retail deposits rose 13.2% to RSD 45,730 mil in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia's retail deposits reached RSD 45,730 mil in 2017, up 13.2% compared to the previous year. Serbian banking sector accepted retail deposits of RSD 1,223 bil in 2017, up 1.09% when compared to the last year. Erste Bank Serbia accounted for ...

Erste Serbia's net interest margin fell 9.92% to 4.02% in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia's net interest margin amounted to 4.02% in 2017, down from 4.46% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 6.49% in 2008 and an all time low of 4.02% in 2017. The average ma...

Erste Serbia's corporate loans rose 2.63% to RSD 62,701 mil in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia's corporate loans reached RSD 62,701 mil in 2017, up 2.63% compared to the previous year. Serbian banking sector provided corporate loans of RSD 1,012 bil in 2017, up 0.160% when compared to the last year. Erste Bank Serbia accounted for...

Erste Serbia's corporate deposits rose 32.5% to RSD 46,252 mil in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia's corporate deposits reached RSD 46,252 mil in 2017, up 32.5% compared to the previous year. Serbian banking sector accepted corporate deposits of RSD 694 bil in 2017, up 6.26% when compared to the last year. Erste Bank Serbia accounted ...

Erste Serbia's costs (as % of assets) fell 8.00% to 3.65% in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia's cost to income ratio reached 66.7% in 2017, up from 65.2% compared to the previous year. Historically, the bank’s costs reached an all time high of 91.4% of income in 2007 and an all time low of 65.1% in 2015. When compared to total ass...

Erste Serbia's total revenues rose 7.07% to RSD 8,653 mil in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia generated total banking revenues of RSD 8,653 mil in 2017, up 7.07% compared to the previous year. Serbian banking sector banking sector generated total revenues of RSD 197,856 mil in 2017, up 7.42% when compared to the last year. ...

Erste Serbia's net interest income rose 7.31% to RSD 6,354 mil in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia generated total banking revenues of RSD 8,653 mil in 2017, up 7.07% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of RSD 12,373 mil in 2012 a...

Erste Serbia's customer loan growth fell 34.1% to 14.5% in 2017

By Helgi Analytics - September 17, 2018

Erste Bank Serbia's customer loan growth reached 14.5% in 2017, down from 22.0% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 106% in 2007 and an all time low of -6.78% in 2013. In the last decade, the av...

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Erste Bank Serbia is a Serbia-based subsidiary of Austria's Erste Bank. The Bank offers its financial products and services to private customers, small and medium size enterprises, and large corporates. At the end of 2014, the Bank had some 47 branches units, employed nearly 1,000 persons and held some 2.5% of Serbian banking assets. Erste Bank is the second largest commercial bank in Austria. In 1997, Erste Group went public with a strategy to expand its retail business into Central and Eastern Europe (CEE). Since then Erste Group's customer base has grown through numerous acquisitions and organic growth from 600,000 to around 16.4 million. With 2,900 branches and 46,000 employees, Erste Group is today one of the largest financial services providers in the Eastern part of EU in terms of clients and total assets.

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Finance

Erste Bank Serbia has been growing its revenues and asset by 5.56% and 16.1% a year on average in the last 10 years. Its loans and deposits have grown by 16.9% and 13.7% a year during that time and loans to deposits ratio reached 120% at the end of 2017. The company achieved an average return on equity of 6.90% in the last decade with net profit growing 31.2% a year on average. In terms of operating efficiency, its cost to income ratio reached 66.7% in 2017, compared to 76.5% average in the last decade.

Equity represented 12.5% of total assets or 19.1% of loans at the end of 2017. Erste Bank Serbia's non-performing loans were 3.07% of total loans while provisions covered some 121% of NPLs at the end of 2017.