Less bad loans, Serbian National Bank chief says

NEWS 25.07.2018 14:55
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Source: Tanjug/Sava Radovanović

The number of non-performing loans has dropped and now stands at 7.8 percent of the total, Serbian National Bank (NBS) Governor Jorgovanka Tabakovic said on Wednesday.

  The number of bad loans has been more than halved over the past three years, she said told MPs during a presentation of the NBS report on monetary policy in 2017, adding that bad loans accounted for 9.8 percent of the total at the end of last year.  

Annual interest rates on Dinar loans have been lowered to 4.75 percent which is 3.5 times lower than in May 2013 and interest rates on loans indexed in Euros have been halved, Tabakovic told the members of the parliamentary Finance, Budget and Public Expenses committee.

“The NBS met its obligations under the law in 2017. We managed to maintain price and financial stability, readily responded to international challenges and behaved responsibly,” she said.

Inflation stood at an average 3 percent in 2017, the NBS Governor said.