financial sector

Serbia Seeks to Expand Asset Management Beyond a Bank-Dominated Financial System

Serbia's financial system is dominated by banks despite the presence of substantial household deposits and a growing insurance sector, while asset management remains comparatively underdeveloped. Mutual funds, voluntary pension funds, private wealth managers and other institutional investors account for a relatively small part of the market. This limits the financing options available to companies and leaves households with fewer alternatives between keeping money in bank deposits and investing directly in real estate. Funds could broaden sources of corporate capital A…