Societe Generale Serbia

SG Serbia's net profit rose 66.0% to RSD 6,325 mil in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia made a net profit of RSD 6,325 mil under revenues of RSD 13,928 mil in 2017, up 66.0% and 5.56% respectively ...

SG Serbia's mortgage loans rose 34.7% to RSD 62,305 mil in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia's mortgage loans reached RSD 62,305 mil in 2017, up 34.7% compared to the previous year. Serbian bankin...

SG Serbia's employees rose 3.64% to 1,451 in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia employed 1,451 persons in 2017, up 3.64% when compared to the previous year. Historically, the bank's wo...

Profit Statement 2015 2016 2017
Net Interest Income RSD mil 10,426 10,591 11,116
Fee Income (As % Of Revenues) % 15.1 16.5 17.9
Other Income RSD mil 784 428 313
Total Revenues RSD mil 13,206 13,194 13,928
Staff Cost RSD mil 3,285 3,372 3,456
Operating Profit RSD mil 5,064 4,667 4,755
Provisions RSD mil 2,938 525 -2,302
Net Profit RSD mil 2,137 3,811 6,325
Balance Sheet 2015 2016 2017
Interbank Loans RSD mil 9,103 6,425 2,223
Customer Loans RSD mil 162,594 168,367 217,273
Debt Securities RSD mil 27,982 40,629 38,970
Total Assets RSD mil 230,763 244,720 294,755
Shareholders' Equity RSD mil 36,648 40,634 40,953
Interbank Borrowing RSD mil 41,310 45,077 72,432
Customer Deposits RSD mil 139,932 141,900 165,425
Issued Debt Securities RSD mil 9,128 9,264 8,890
Ratios 2015 2016 2017
ROE % 6.05 9.86 15.5
ROA % 0.933 1.60 2.35
Costs (As % Of Assets) % 3.55 3.59 3.40
Costs (As % Of Income) % 61.7 64.6 65.9
Capital Adequacy Ratio % 16.3 1,636 17.6
Net Interest Margin % 4.55 4.45 4.12
Loans (As % Of Deposits) % 116 119 131
NPLs (As % Of Loans) % 18.0 16.5 10.2
Provisions (As % Of NPLs) % 75.4 80.0 85.6
Growth Rates 2015 2016 2017
Total Revenue Growth % 13.0 -0.094 5.56
Operating Cost Growth % 21.8 4.72 7.58
Operating Profit Growth % 1.18 -7.84 1.88
Net Profit Growth % 295 78.4 66.0
Customer Loan Growth % 4.46 3.55 29.0
Total Asset Growth % 1.51 6.05 20.4
Customer Deposit Growth % 10.1 1.41 16.6
Shareholders' Equity Growth % 7.98 10.9 0.784
Employees 1,349 1,400 1,451

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Net Interest Income RSD mil         6,729 7,128 8,309 9,044 10,426    
Total Revenues RSD mil         20,877 27,538 11,166 11,692 13,206    
Operating Profit RSD mil         3,657 3,572 4,674 5,005 5,064    
Net Profit RSD mil         1,366 88.9 -974 541 2,137    
balance sheet                      
Interbank Loans RSD mil         39,984 18,893 13,650 10,190 9,103    
Customer Loans RSD mil         129,637 155,211 156,383 155,656 162,594    
Debt Securities RSD mil         9,951 12,556 13,916 23,713 27,982    
Total Assets RSD mil         192,381 206,588 224,154 227,321 230,763    
Shareholders' Equity RSD mil         33,843 33,991 33,169 33,941 36,648    
Interbank Borrowing RSD mil         40,580 50,900 57,107 46,330 41,310    
Customer Deposits RSD mil         101,518 112,743 115,313 127,042 139,932    
Issued Debt Securities RSD mil         0 1,700 15,542 16,294 9,128    
ratios                      
ROE %         4.92 0.262 -2.90 1.61 6.05    
ROA %         0.823 0.045 -0.452 0.240 0.933    
Costs (As % Of Assets) %         10.4 12.0 3.01 2.96 3.55    
Costs (As % Of Income) %         82.5 87.0 58.1 57.2 61.7    
Capital Adequacy Ratio % ... ... ...   18.9 18.0 20.1 15.6 16.3    
Net Interest Margin %         4.05 3.57 3.86 4.01 4.55    
Interest Income (As % Of Revenues) %         32.2 25.9 74.4 77.4 79.0    
Fee Income (As % Of Revenues) %         9.56 7.75 18.4 17.1 15.1    
Staff Cost (As % Of Total Cost) %         13.0 10.8 49.2 48.3 40.3    
Equity (As % Of Assets) %         17.6 16.5 14.8 14.9 15.9    
Loans (As % Of Deposits) %         128 138 136 123 116    
Loans (As % Assets) %         67.4 75.1 69.8 68.5 70.5    
NPLs (As % Of Loans) % ... ... ...   7.96 7.81 11.0 20.4 18.0    
Provisions (As % Of NPLs) % ... ... ...   36.2 51.0 91.6 61.7 75.4    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Interest Income RSD mil         11,568 13,377 14,642 14,770 14,311    
Interest Cost RSD mil         4,838 6,249 6,333 5,726 3,885    
Net Interest Income RSD mil         6,729 7,128 8,309 9,044 10,426    
Net Fee Income RSD mil         1,995 2,134 2,057 2,002 1,996    
Other Income RSD mil         12,152 18,276 800 645 784    
Total Revenues RSD mil         20,877 27,538 11,166 11,692 13,206    
Staff Cost RSD mil         2,231 2,589 3,191 3,230 3,285    
Depreciation RSD mil         447 445 448 463 432    
Other Cost RSD mil         14,541 20,933 2,853 2,993 4,424    
Operating Cost RSD mil         17,220 23,966 6,492 6,687 8,142    
Operating Profit RSD mil         3,657 3,572 4,674 5,005 5,064    
Provisions RSD mil         2,119 3,453 6,057 4,634 2,938    
Extra and Other Cost RSD mil         -1.00 < 0.001 0 < -0.001 0    
Pre-Tax Profit RSD mil         1,539 119 -1,383 371 2,126    
Tax RSD mil         172 29.8 -409 -170 -10.3    
Minorities RSD mil         0 0 0 0 0    
Net Profit RSD mil         1,366 88.9 -974 541 2,137    
growth rates                      
Net Interest Income Growth % ...       22.2 5.92 16.6 8.85 15.3    
Net Fee Income Growth % ...       10.1 6.94 -3.61 -2.64 -0.306    
Total Revenue Growth % ...       29.0 31.9 -59.5 4.71 13.0    
Operating Cost Growth % ...       31.5 39.2 -72.9 3.00 21.8    
Operating Profit Growth % ...       18.4 -2.33 30.9 7.09 1.18    
Pre-Tax Profit Growth % ...       -13.2 -92.3 -1,264 -127 473    
Net Profit Growth % ...       -14.4 -93.5 -1,196 -156 295    
market share                      
Market Share in Revenues %         12.7 16.3 6.86 6.69 7.20    
Market Share in Net Profit %         109 0.763 ... 23.8 28.7    
Market Share in Employees % ... ... ... ... 4.55 4.79 5.30 5.70 5.56    
Market Share in Branches % ... ... ...   4.28 4.55 5.43 5.82 5.95    
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                      
Cash RSD mil         8,923 15,711 35,690 32,330 32,007    
Interbank Loans RSD mil         39,984 18,893 13,650 10,190 9,103    
Customer Loans RSD mil         129,637 155,211 156,383 155,656 162,594    
Retail Loans RSD mil ... ... ...   38,730 45,822 57,968 65,681 70,844    
Mortgage Loans RSD mil ... ... ...   20,804 26,264 35,586 40,536 42,826    
Consumer Loans RSD mil ... ... ...   17,926 19,558 22,382 25,145 28,018    
Corporate Loans RSD mil ... ... ...   84,641 103,199 90,563 81,605 83,639    
Debt Securities RSD mil         9,951 12,556 13,916 23,713 27,982    
Fixed Assets RSD mil         2,741 2,564 2,511 2,365 2,320    
Total Assets RSD mil         192,381 206,588 224,154 227,321 230,763    
Shareholders' Equity RSD mil         33,843 33,991 33,169 33,941 36,648    
Of Which Minority Interest RSD mil         0 0 0 0 0    
Liabilities RSD mil         158,537 172,597 190,985 193,380 194,115    
Interbank Borrowing RSD mil         40,580 50,900 57,107 46,330 41,310    
Customer Deposits RSD mil         101,518 112,743 115,313 127,042 139,932    
Retail Deposits RSD mil ... ... ... ... ... ... 59,546 61,122 63,121    
Corporate Deposits RSD mil ... ... ... ... ... ... 55,767 65,920 76,810    
Issued Debt Securities RSD mil         0 1,700 15,542 16,294 9,128    
Other Liabilities RSD mil         16,439 7,254 3,023 3,714 3,745    
asset quality                      
Non-Performing Loans RSD mil ... ... ...   10,625 12,630 19,122 36,316 33,856    
Gross Loans RSD mil ... ... ...   133,485 161,649 173,890 178,058 188,118    
Total Provisions RSD mil ... ...     3,849 6,438 17,507 22,402 25,524    
growth rates                      
Customer Loan Growth % ...       22.8 19.7 0.755 -0.465 4.46    
Retail Loan Growth % ... ... ... ... 15.9 18.3 26.5 13.3 7.86    
Mortgage Loan Growth % ... ... ... ... 20.0 26.2 35.5 13.9 5.65    
Consumer Loan Growth % ... ... ... ... 11.4 9.10 14.4 12.3 11.4    
Corporate Loan Growth % ... ... ... ... 32.8 21.9 -12.2 -9.89 2.49    
Total Asset Growth % ...       37.7 7.39 8.50 1.41 1.51    
Shareholders' Equity Growth % ...       56.3 0.435 -2.42 2.33 7.98    
Customer Deposit Growth % ...       102 11.1 2.28 10.2 10.1    
Retail Deposit Growth % ... ... ... ... ... ... ... 2.65 3.27    
Corporate Deposit Growth % ... ... ... ... ... ... ... 18.2 16.5    
market share                      
Market Share in Customer Loans %         6.52 6.90 7.08 6.53 6.45    
Market Share in Corporate Loans % ... ... ...   8.32 9.22 8.94 8.41 8.43    
Market Share in Retail Loans % ... ... ...   5.50 5.70 6.24 6.49 6.79    
Market Share in Consumer Loans % ... ... ...   6.44 7.02 8.60 9.06 9.33    
Market Share in Mortgage Loans % ... ... ...   7.54 8.48 11.3 12.0 12.4    
Market Share in Total Assets %         6.63 6.54 7.12 6.88 6.73    
Market Share in Customer Deposits %         7.32 7.36 7.23 7.40 7.65    
Market Share in Retail Deposits % ... ... ... ... ... ... 5.82 5.58 5.58    
Market Share in Corporate Deposits % ... ... ... ... ... ... 13.0 13.2 13.3    
ratios Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                      
ROE %         4.92 0.262 -2.90 1.61 6.05    
ROA %         0.823 0.045 -0.452 0.240 0.933    
Costs (As % Of Assets) %         10.4 12.0 3.01 2.96 3.55    
Costs (As % Of Income) %         82.5 87.0 58.1 57.2 61.7    
Capital Adequacy Ratio % ... ... ...   18.9 18.0 20.1 15.6 16.3    
Net Interest Margin %         4.05 3.57 3.86 4.01 4.55    
Interest Spread % ...       3.47 2.93 3.31 3.56 4.24    
Asset Yield %         6.97 6.71 6.80 6.54 6.25    
Cost Of Liabilities % ...       3.50 3.77 3.48 2.98 2.01    
Interest Income (As % Of Revenues) %         32.2 25.9 74.4 77.4 79.0    
Fee Income (As % Of Revenues) %         9.56 7.75 18.4 17.1 15.1    
Other Income (As % Of Revenues) %         58.2 66.4 7.17 5.52 5.93    
Cost Per Employee USD per month ... ... ... ... 1,904 1,802 2,235 2,054 1,921    
Cost Per Employee (Local Currency) RSD per month ... ... ... ... 139,703 158,509 190,336 188,123 202,931    
Staff Cost (As % Of Total Cost) %         13.0 10.8 49.2 48.3 40.3    
Equity (As % Of Assets) %         17.6 16.5 14.8 14.9 15.9    
Loans (As % Of Deposits) %         128 138 136 123 116    
Loans (As % Assets) %         67.4 75.1 69.8 68.5 70.5    
NPLs (As % Of Loans) % ... ... ...   7.96 7.81 11.0 20.4 18.0    
Provisions (As % Of NPLs) % ... ... ...   36.2 51.0 91.6 61.7 75.4    
Provisions (As % Of Loans) % ... ...     2.97 4.15 11.2 14.4 15.7    
Cost of Provisions (As % Of Loans) %         1.80 2.42 3.89 2.97 1.85    
other data Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                      
Branches ... ... ...   102 102 108 104 103    
Employees ... ... ... ... 1,331 1,361 1,397 1,431 1,349    

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SG Serbia's customer loans rose 29.0% to RSD 217,273 mil in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia's customer loans reached RSD 217,273 mil in 2017, up 29.0% 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. Societe Generale Serbia acc...

SG Serbia's customer deposits rose 16.6% to RSD 165,425 mil in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia's customer deposits reached RSD 165,425 mil in 2017, up 16.6% 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. Societe Generale Serb...

SG Serbia's corporate loans rose 24.5% to RSD 109,204 mil in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia's loans reached RSD 238,082 mil in the 2017, up from RSD 193,986 mil compared to the previous year. Historically, the bank’s loans reached an all time high of RSD 238,082 mil in 2017 and an all time low of RSD 108,234 mil in 2010. ...

SG Serbia's consumer loans rose 33.1% to RSD 45,763 mil in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia's consumer loans reached RSD 45,763 mil in 2017, up 33.1% compared to the previous year. Serbian banking sector provided consumer loans of RSD 548 bil in 2017, up 14.5% when compared to the last year. Societe Generale Serbia accoun...

SG Serbia's costs (as % of assets) fell 5.18% to 3.40% in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia's cost to income ratio reached 65.9% in 2017, up from 64.6% compared to the previous year. Historically, the bank’s costs reached an all time high of 87.0% of income in 2012 and an all time low of 57.2% in 2014. When compared to tot...

SG Serbia's npls (as % of loans) fell 38.1% to 10.2% in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia's non-performing loans reached 10.2% of total loans at the end of 2017, down from 16.5% compared to the previous year. Historically, the NPL ratio hit an all time high of 20.4% in 2014 and an all time low of 6.02% in 2010. Provision ...

SG Serbia's net interest margin fell 7.49% to 4.12% in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia's net interest margin amounted to 4.12% in 2017, down from 4.45% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 5.90% in 2008 and an all time low of 3.57% in 2012. The aver...

SG Serbia's total revenues rose 5.56% to RSD 13,928 mil in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia generated total banking revenues of RSD 13,928 mil in 2017, up 5.56% 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 y...

SG Serbia's net interest income rose 4.96% to RSD 11,116 mil in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia generated total banking revenues of RSD 13,928 mil in 2017, up 5.56% 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 27,538 mil in...

SG Serbia's retail deposits rose 2.12% to RSD 66,876 mil in 2017

By Helgi Analytics - September 17, 2018

Societe Generale Serbia's retail deposits reached RSD 66,876 mil in 2017, up 2.12% 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. Societe Generale Serbia ac...

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Société Générale Banka Srbija (or Société Générale Serbia) is a Serbia-based universal bank with a market share of around 7%. The Bank offers its financial products and services to private customers, small and medium size enterprises, and large corporates. The Bank's deposit products include fixed deposits, fixed foreign exchange deposits, current accounts, and savings accounts. The Bank’s loan portfolio primarily comprises personal, mortgage, housing, investment and real estate project financing loans, as well as overdrafts, trade finance, and credit guarantees. At the end of 2013, the Bank operated through 108 branches and employed nearly 1,400 persons. The Bank was founded in 1990 and is headquartered in Novi Beograd, Serbia. "Société Générale Banka Srbija" a.d. Beograd is a subsidiary of Societe Generale Group.

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Finance

Societe Generale Serbia has been growing its revenues and asset by -12.7% and 7.37% a year on average in the last 5 years. Its loans and deposits have grown by 6.96% and 7.97% a year during that time and loans to deposits ratio reached 131% at the end of 2017. The company achieved an average return on equity of 6.03% in the last five years with net profit growing 135% a year on average. In terms of operating efficiency, its cost to income ratio reached 65.9% in 2017, compared to 61.5% average in the last five years.

Equity represented 13.9% of total assets or 18.8% of loans at the end of 2017. Societe Generale Serbia's non-performing loans were 10.2% of total loans while provisions covered some 85.6% of NPLs at the end of 2017.