Intellinews - Serbia Financial Sector Report- February 2009 - a new market research
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18.03.2012 22:34:57 -
(live-PR.com) - Reportlinker.com announces that a new market research report related to the Financial Services industry is available in its catalogue.
More information regarding this report:Intellinews - Serbia Financial Sector Report- February 2009
http://www.reportlinker.com/p0324174/Intellinews-Serbia-Financial-Sector-Report-February-2009.html#utm_source=LivePR&utm_medium=pr&utm_campaign=LivePR
The IntelliNews
Bulgaria Financial Sector Report offers an extensive summary of the Bulgarian financial market, segmented into banking, insurance, leasing, capital market and investment funds. It includes a complete coverage of the latest developments, trends and corporate news, accompanied by thorough statistics and comments. This sector report is ideal to keep you abreast on recent company and industry news. Written by local professionals, it is a unique market and business intelligence analysis, tailored to save time by providing in-depth information, while helping you to make confident and informed business decisions.
The intensification of the global financial crisis in the last few months of 2008 and its spill-over to the real sector made Serbian authorities adopt measures aimed at improving the credibility and the liquidity of the financial system. The central bank expectedly was very active to this end. It decided in mid-October to retroactively abolish the reserve requirements on external borrowing. The move aimed at increasing liquidity as well as securing fresh resources to meet the growing demand for EUR that resulted in massive depreciation of the dinar. Another measure in support of the dinar was the hike of the share of mandatory reserve requirements to be held in local currency. It was increased from 10% to 20% and later to 40%. In January the central bank also reduced the key policy interest rate by 125bps to 16.5%. On its turn, the government increased the minimum guaranteed deposits for households and SMEs to EUR 50,000 from EUR 3,000 in line with the practice in the EU. At the end of January, the cabinet approved measures that should result in the release of some EUR 1.3bn in credits for the economy. As far as the banking system is concerned, the final quarter of 2008 was expectedly marked by sharp slowdown in activity. Credit growth moderated significantly due to the liquidity problems faced by the lenders. Deposits were also adveresely affected and we saw massive outflow in savings of citizens in October. Even though a slight reversal was recorded afterwards, the confidence in the banking sector was shaken. The measures of the central bank failed to produce the desired effects and instead of transferring the released funds on the domestic market, commercial banks withdrew most of them abroad, according to statements of the central bank governor. We do not expect quick recovery of the sector as the growing uncertainty will be the main hinder for credit activity. This, will result in considerable wrosening of its financial performance. (rlk1-2012-03-18) plp
Executive Summary
FINANCIAL OVERVIEW
BANKING OVERVIEW
BANKING NEWS
INSURANSE SECTOR
OTHER FINANCIAL NEWS
APPENDIX
More information regarding this report:Intellinews - Serbia Financial Sector Report- February 2009
http://www.reportlinker.com/p0324174/Intellinews-Serbia-Financial-Sector-Report-February-2009.html#utm_source=LivePR&utm_medium=pr&utm_campaign=LivePR
The IntelliNews
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The intensification of the global financial crisis in the last few months of 2008 and its spill-over to the real sector made Serbian authorities adopt measures aimed at improving the credibility and the liquidity of the financial system. The central bank expectedly was very active to this end. It decided in mid-October to retroactively abolish the reserve requirements on external borrowing. The move aimed at increasing liquidity as well as securing fresh resources to meet the growing demand for EUR that resulted in massive depreciation of the dinar. Another measure in support of the dinar was the hike of the share of mandatory reserve requirements to be held in local currency. It was increased from 10% to 20% and later to 40%. In January the central bank also reduced the key policy interest rate by 125bps to 16.5%. On its turn, the government increased the minimum guaranteed deposits for households and SMEs to EUR 50,000 from EUR 3,000 in line with the practice in the EU. At the end of January, the cabinet approved measures that should result in the release of some EUR 1.3bn in credits for the economy. As far as the banking system is concerned, the final quarter of 2008 was expectedly marked by sharp slowdown in activity. Credit growth moderated significantly due to the liquidity problems faced by the lenders. Deposits were also adveresely affected and we saw massive outflow in savings of citizens in October. Even though a slight reversal was recorded afterwards, the confidence in the banking sector was shaken. The measures of the central bank failed to produce the desired effects and instead of transferring the released funds on the domestic market, commercial banks withdrew most of them abroad, according to statements of the central bank governor. We do not expect quick recovery of the sector as the growing uncertainty will be the main hinder for credit activity. This, will result in considerable wrosening of its financial performance. (rlk1-2012-03-18) plp
Executive Summary
FINANCIAL OVERVIEW
BANKING OVERVIEW
BANKING NEWS
INSURANSE SECTOR
OTHER FINANCIAL NEWS
APPENDIX
