record profit

Serbia’s banking sector sees record profit in 2023 driven by high interest margins

In 2023, Serbia's banking sector posted a record profit of 1.5 billion euros, marking a significant increase in profitability compared to previous years, driven primarily by higher interest margins. Banks benefited from a faster rise in loan interest rates compared to deposit rates. The return on assets was 2.8%, and the return on capital reached 20.3%, both record levels since the sector's reforms in the early 2000s. This surge in profits occurred amidst high inflation and interest rates globally. In…