Banks in Serbia Earn RSD38bn in Commissions in 2020 | Beta Briefing

Banks in Serbia Earn RSD38bn in Commissions in 2020

Source: Beta
SEE Business / Serbia | 16.08.21 | access_time 07:49


During 2020, banks in Serbia earned EUR329m in various commissions and fees, the N1 website reported on Aug. 13. 

This sum includes every commission charged on the spot, through electronic or mobile banking, fees for cards, cheques, loans and account maintenance costs. 

The website said that the main source of income for banks was interest, and that banks scooped up RSD121.25bn in interest in 2020, according to the Agency for Economic Registers. 

As for various fees and commissions, the banking sector earned RSD38.7bn in pure profits, which is around EUR329m. 

Even so, this was around EUR29m less than the amount collected in 2019. 

“There is no justification for increasing fees because in Serbia in 2020, bank profits reached nearly EUR400m, so we cannot say that there were losses that needed to be covered by raising commissions,” Dejan Gavrilovic from the Efektiva consumers’ organization told the N1 website. 

Banks, he stressed, have been raising standard tariffs, but they have also introduced some that he called “incredible.”  

Gavrilovic said that one was a commission that banks were charging for making a mistake when entering an account number. 

Some of these “incredible” fees include one that Komercijalna Banka will introduce in October, when it will begin charging a fee for foreign pensions. 

“This was never subject to a fee before,” Gavrilovic said.

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