ZA USPEH SU ZASLUŽNI STRUČNI, AMBICIOZNI I · PDF filedevizni kurs, inflacĳa je svedena ... Dr Dugalić: Prošla godina je bila uspešna za banke u Srbĳi po ... bih kao bitno da

�

bank

arst

vo �

- �

��

Dr Veroljub Dugalić*

ZA USPEH SU ZASLUŽNI STRUČNI, AMBICIOZNI I HRABRI

Početak godine je pravi trenutak za ocenu kakva je bila prethodna 2007. i za razgovor o tome šta se očekuje u ovoj, prema procenama analitičara i stručne javnosti, ni malo lakoj godini. Odgovori na sedam pitanja generalnog sekretara Udruženja banaka dr Veroljuba Dugalića pružiće Vam, nadamo se, mnogo širu sliku nego što se pitanjima i želelo postići.

intervju

* Generalni sekretar Udruženja banaka Srbĳe

�

bank

arst

vo �

- �

��

The beginning of the year is the right moment for evaluation of the previous year 2007, and for a talk about expectations for this, according to the estimates of both the analysts and professional circles, not in the least an easy year to be. The answers to seven questions given by Dr. Veroljub Dugalic, Secretary General of the Association of Serbian Banks will, hopefully, offer you an even broader picture than the one that we intended to achieve through our questions.

Dr Veroljub Dugalić*

SUCCESS THANKS TO

THOSE HIGHLY PROFESSIONAL,

AMBITIOUS AND BRAVE

interview

* Secretary General, Association of Serbian Banks

�

bank

arst

vo �

- �

��

Koji ekonomski pokazatelji na najbolji način oslikavaju Srbĳu u 2007. godini?

Da bi se najmarkantnĳi pokazatelji makroekonomskih kretanja u Srbĳi za prošlu godinu bolje sagledali vratiću se nekoliko godina unazad. Sedam je godina kako je, januara 2001., formirana nova vlada Srbĳe koja je bila suočena sa potpunim krahom privrede, razrušenom infrastrukturom i dramatičnom socĳalnom situacĳom. Liberalizacĳom cena,

kursa i ekonomskih odnosa sa inostranstvom, uz finansĳsku podršku Evropske unĳe i stabilnim prilivom u budžet, relativno brzo je postignuta makroekonomska stabilnost. U prvim godinama tranzicĳe formiran je stabilan devizni kurs, inflacĳa je svedena sa oko 41% u 2001. na 6,6% u 2006. godini. Uspostavljen je novi bankarski sistem koji je vratio poverenje u finansĳski sektor. Prve ozbiljne privatizacĳe su urađene u bankarskom sektoru i može se s pravom reći da je ovaj sektor učinio najveći iskorak u ukupnom restrukturiranju domaće privrede. Restrukturiranjem bankarskog sektora došao je značajan priliv stranog kapitala i to, mogu da kažem, dobrog kapitala.

U prošloj godini u Srbĳi preovlađivale su pozitivne tendencĳe: rast privredne aktivnosti i izvoza, povećanje deviznih rezervi, priliv direktnih stranih investicĳa i povećanje štednje

u bankama. Realan rast BDP u 2007. godini procenjuje se na 7,3% dok je godinu dana pre iznosio 5,7%. Najznačajnĳi doprinos rastu je od telekomunikacĳa, trgovine na veliko i malo i finansĳskog sektora. Ostvaren je i rast (u evrima) izvoza - 26% i uvoza - 27%. Stranim direktnim investicĳama značajnim delom je pokriven deficit tekućeg računa u 2007. Investicĳe u kapitalnom delu platnog bilansa procenjuju se na oko 2 milĳarde evra. Inflacĳa je iznosila 10,1%, 3,5% više nego u 2006. Glavni razlozi inflacĳe bili su rast cena na�e i hrane.

Kurs dinara prema evru je realno aprecirao oko 6,8%, tako da je realna aprecĳacĳa dinara u 2006. i 2007. iznosila 21%. Tokom prošle godine privatizovano je 362 društvena preduzeća, tako da se broj prvatizovanih povećao na 2.151.

Pozitivni su i rezultati fiskalne politike. Ostvareni prihodi budžeta Republike iznosili su 580,4 a rashodi 567,5 milĳardi dinara. Javni dug Srbĳe smanjen je za 35,6 milĳardi dinara u odnosu na prethodnu 2006. godinu i na kraju 2007. iznosio je 703,3 milĳarde dinara (8,9 milĳardi evra). Servisiranje obaveza po osnovu javnog duga RS iznosilo je 589,5 miliona evra

za otplatu dugovanja i 210,2 miliona evra za plaćanje kamate. Na otplatu unutrašnjeg duga potrošeno je 502,9 miliona evra, najviše za staru deviznu štednju u iznosu od 220,8 miliona evra. Inokreditorima otplaćeno je 86,6 miliona evra.

U ovakvom okruženju kako je poslovao domaći bankarski sektor?

Banke u Srbĳi, kao i svuda u svetu, su dobro uređene institucĳe. U funkcionalnom, kadrovskom i organizacionom smislu ne zaostaju za bankama u okruženju. Ono što im nedostaje je veći iznos sopstvenog kapitala. Rezultati poslovanja i ponuda čitavog niza novih bankarskih proizvoda bili su odlični, bez obzira na sva iskušenja kojima ja bankarski sektor bio izložen, uključujući i prilagođavanje merama NBS, potrese na finansĳskom tržištu

Dr Dugalić: Prošla godina je bila uspešna za banke u Srbĳi po jačanju kapitala, boljoj organizacĳi, prihvatanju principa Bazela II i plasiranju niza novih bankarskih proizvoda.

Foto

: Nik

ola

Mar

kovi

ć

�

bank

arst

vo �

- �

��

What are the economic indicators that offer the best way to describe Serbia in the year 2007?

In order to be�er assess the most outstanding indicators of macroeconomic trends in Serbia during the last year, I shall go several years back. Seven years have passed since in January 2001 the new government of Serbia was formed, the one that was faced with a total collapse of the economy, destroyed infrastructure and dramatic social situation. Liberalisation of prices, exchange rate and economic foreign relations, together with financial support from the European Union and a stable inflow of funds into the budget, relatively quickly achieved the level of macroeconomic stability. During the initial years of transition a stable exchange rate was established, inflation was brought down from some 41% in 2001 to 6.6% in the year 2006. New banking system was created which quickly regained confidence of the population in the financial sector. The first serious privatisations were made in the banking sector and perhaps it may be rightfully said that it was the banking sector that actually made the first major step forward in an overall restructuring of the national economy. Together with the restructuring of the banking sector we have also seen a substantial inflow of foreign capital and, if I may be permi�ed to say, it was a very sound capital indeed.

During the last year positive tendencies prevailed in Serbia: growth of economic activities and exports, higher foreign exchange reserves, inflow of direct foreign investments and increased savings in banks. The real growth of GDP in 2007 is estimated at 7.3% while a year earlier it was 5.7%. The most important contribution to the growth came from telecommunications, wholesale and retail trade, and from the financial sector. Growth was also achieved in exports (in EUR) of 26%, and imports of 27%. Foreign direct investments in substantial part covered the current account deficit in 2007. Investments in the capital part of the balance of payment are estimated at some 2 billion EUR. Inflation was 10.1%, 3.5% higher than in the year 2006. The main reasons for the inflation were growth in fuel oil and food prices. Dinar/EUR exchange rate had

really appreciated for some 6.8%, so that the real appreciation of the dinar currency in the years 2006 and 2007 was 21%. During the last year some 362 socially-owned companies were privatised, so that the number of privatised companies has grown to 2,151.

Results of fiscal policies were also positive. The achieved budget revenues of the Republic amounted to 580.4, and expenditures to 567.5 billion dinars. Public debt of Serbia was reduced for 35.6 billion dinars in respect to the previous year 2006, and at the end of 2007 amounted to 703.3 billion dinars (8.9 billion EUR). Public debt servicing of the Republic of Serbia amounted to 589.5 million EUR for principal repayment, and 210.2 million EUR for interest rate repayment. A total of 502.9 million EUR was spent on repayment of internal debt, mostly repayment of the old foreign exchange savings in the amount of 220.8 EUR. Foreign creditors were paid 86.6 million EUR.

How did the domestic banking sector operate in such an environment?

Banks in Serbia, as everywhere else in the world, are very well regulated institutions. In the functional, personnel and organisational sense they do not lag behind any bank in the

Association of Serbian Banks seat

�

bank

arst

vo �

- �

��

i velike skokove i padove deviznog kursa. Narodna banka Srbĳe je, tako na primer, referentnu kamatnu stopu u prošloj godini spuštala šest puta: sa 14%, kolika je bila početkom do 10% na kraju te godine. Podizanje kamatne stope obavljeno je dva puta, avgusta i decembra 2007.

Često se čuju primedbe na račun visine kamatnih stopa naših banaka. Poznato je da kamata kao cena upotrebe kapitala ili novca zavisi od ponude i potražnje a prosečno ponderisana kamatna stopa na kratkoročne plasmane iznosi oko 11%, na dugoročne 10%. Kada se govori o visini kamata moramo imati u vidu još neke faktore koji utiču na njeno kretanje: visinu inflacĳe i kamatnu stopu na međunarodnim tržištima jer se naše banke zadužuju u inostranstvu da bi pribavile dodatna sredstva za kreditiranje u zemlji. Osim toga, postoji velika imobilizacĳa bankarskih sredstava u obavezne rezerve. U kapitalu banaka 31.12.2007. imali smo 215 milĳardi dinara a oko 290 milĳardi je bio iznos imobilisanih sredstava po osnovu obavezne rezerve. To je za banke izgubljeni prihod koji one moraju da nadoknade na nekoj drugoj strani, najčešće kroz kamatnu stopu. Na obaranje kamatne stope, međutim, utiče konkurencĳa. U sklopu svih ovih faktora obrazuje se i visina kamatne stope. Istakao bih kao bitno da visina kamatne stope iz godine u godinu opada i taj trend je posebno izražen u poslednjih nekoliko godina.

Na kraju, 2007. je bila uspešna godina u poslovanju banaka, oličena u jačanju kapitala, boljoj organizacĳi, prihvatanju principa Bazela II kao standardima koji važe u Evropskoj unĳi i plasiranju niza novih bankarskih proizvoda. Poslovno bankarstvo je napredovalo u pogledu porasta ukupnih depozita za 3,1 milĳardu evra.

Od tog porasta 80% je rast deviznih depozita. Vrednost kredita je povećana za oko 3,3 milĳarde evra. U 2007. godini porasla je i ukupna aktiva bankarskog sektora za preko 30%. Sve to još jednom potvrđuje da je bankarski sektor najači i najosposobljenĳi deo naše privrede.

Kako procenjujete ovu godinu, ima li, iako smo već pregazili jedan njen kvartal, mnogo nepoznanica koje će uticati na tačnost procene i buduće rezultate u monetarnoj i kreditnoj politici?

Da ponovim ono što je dobro poznato: glavnu ulogu u ostvarivanju ciljeva makroekonomske politike imaće čvrsta monetarna i fiskalna politika, ubrzanje strukturnih reformi u realnom, finansĳskom i javnom sektoru i ubrzanje - usporavanje procesa pridruživanja EU.

Ciljevi ekonomske politike zemlje u ovoj kao i u godinama do 2010. su: makroekonomska stabilnost, dinamičan privredni rast, rast zaposlenosti i standarda stanovništva, ubrzanje procesa stabilizacĳe i pridruživanja EU, ubrzano sprovođenje ekonomskih reformi i ravnomernĳi regionalni razvoj. Ovde fiskalna politika ima posebno mesto. Njen prioritet biće fiskalno prilagođavanje za značajno smanjenje udela javne potrošnje u BDP. Smanjenje javne potrošnje i fiskalnog

deficita predstavljaju ključnu polugu za smanjenje domaće tražnje i spoljnotrgovinskog deficita. Pored toga neophodno je nastaviti sa reformom poreskog sistema, koji je već sada podsticajan i konkurentan u odnosu na regionalno okruženje, u cilju stvaranja povoljnĳih uslova za rast investicĳa i

Stipendĳa Udruženja banaka Srbĳe u prošloj i ovoj godini za evropskog prvaka Milorada

Čavića

Foto

: Boj

ana

Neš

ić

�

bank

arst

vo �

- �

��

neighbourhood. What they do not have is a higher amount of their own capital. Business results and the offer of an entire series of new banking products were truly excellent, regardless of all the challenging that the banking sector was facing, including also the adjustment to the measures of the National Bank of Serbia, turbulences in the financial markets and great volatilities in the foreign exchange rate. National Bank of Serbia, for example, lowered the reference interest rate during the past year six times: from 14% in early 2007, down to 10% at the end of the year. Raising of the interest rate took place twice, in August and in December 2007.

We can o�en hear the objections made on the level of our banks’ lending interest rates. It is well known that the level of the interest rate, just like the price of capital or money, depends on the supply and demand, and that the average weighted interest rate on short-term placements amounts to some 11%, and on the long-term ones to 10%. When speaking of the level of the interest rates we must bear in mind also some other factors that are influencing their movements: the inflation rate or the local interbank interest rate. In addition, there is a great immobilisation of banking funds for the required reserved. On 31 December 2007 we had 215 billion dinars in the bank capital, and some 290 billion was the amount of immobilised funds for obligatory reserves purposes. This was, actually, the revenue lost for the banks which they had to compensate for in some other ways, most o�en through their lending interest rate. However, the lowering of the interest rates is mostly influenced by competition. Within the framework of all these factors, the level of the interest rate is being formed. I would like to underline as significant the fact that the interest rates have been having the tendency of falling, from year to year, and this trend was especially strong in most recent years.

Finally, the year 2007 was a successful business year for the banks, manifested in the strengthening of capital, be�er organisation, adoption of the

Basel 2 Accord principles as standards that are in force in European Union, and in placement on the market of a number of new banking products. Business banking made a progress regarding the growth of total deposits for 3.1 billion EUR. From this growth, 80% was growth in foreign exchange. Volume of crediting has grown for some 3.3 billion EUR. In the year 2007 total assets of the banking sector have grown for over 30%. All this confirms, once again, that the banking sector is now the strongest and the most capacitated segment of our economy.

What are your projections for this year, and although we will soon be in its second quarter, are there many unknown elements that will have an impact on the accuracy of the prognosis and future results in the monetary and crediting policies?

Let me reiterate what is already well known: the main role in the implementation of the macroeconomic policy objectives will be played by a stronger monetary and fiscal policy, acceleration of structural reforms in real, financial and public sectors, and either an intensified, or a slowed-down process in the accession to the European Union.

Economic policy objectives of the country for this year, as well as for the years up to 2010, are the following: macroeconomic stability, a dynamic economic growth, growth in employment and higher standard of living for the population, an accelerated process of stabilisation and accession to the EU, accelerated implementation of economic reforms and a more even regional development. Fiscal policy

Last year’s ASB symposium on Compliance

Foto

: Nik

ola

Mar

kovi

ć

�

bank

arst

vo �

- �

��

zaposlenosti. U ovoj godini nastaviće se sa ubrzanom realizacĳom širokog fronta strukturnih reformi koje su tipične za drugu fazu tranzicĳe: privatizacĳa društvenih preduzeća i državnih banaka i osiguravajućih društava do njenog završetka; pokretanje privatizacĳe preduzeća iz oblasti infrastrukturne i komunalne delatnosti, poboljšanje poslovnog i investicionog ambĳenta, smanjenje korupcĳe, efikasnu primenu stečajnog zakonodavstva itd. Izmenom Zakona o privatizacĳi omogućiće se da se do kraja 2008. okonča privatizacĳa ostalih 750 društvenih preduzeća. Najavljena je privatizacĳa Na�ne industrĳe i Jat-a i usvojenim sistemskim zakonom omogućena besplatna podela 15% akcĳa šest javnih preduzeća zaposlenima i penzionerima tih preduzeća, kao i svim punoletnim građanima koji do sada nisu koristili ovo pravo u postupku privatizacĳe. Projekcĳom je predviđeno usporavanje realnog rasta lične i državne potrošnje, značajan rast investicĳa i izvoza roba i usluga.

Planira se i smanjenje inflacĳe: u 2008 od 6%, u 2009. od 5% i u 2010. od 4%. Svedoci smo da je inflacĳa već u prvih tri meseca ove godine veća od planirane za taj period a kolika će biti do kraja

godine zavisi od mnogo faktora: uravnoteženja i kontrole budžeta, kontrole zarada u javnom sektoru, planirane monetarne politike NBS, stabilizacĳe cena na�e i kontrole rasta cena u javnom sektoru, stvaranja konkurentskog

ambĳenta i zaštite konkurencĳe, otklanjanja dispariteta administrativno regulisanih cena ali, nažalost, i od političkih prilika u zemlji.

Očekujem i pored mnogo nepoznanica da će u ovoj godini doći do umerenog rasta zaduženosti države koji je u 2006. bio 61% BDP-a, da bi u 2009. i 2010. došlo do njegovog smanjenja. Prihod od privatizacĳe, prema planu, bio bi 1,8 milĳardi evra u 2008. i sličnim iznosom i u naredne dve godine da bi do 2010. dostigao 7,1 milĳardu evra iz ino kredita. Ambiciozni planovi govore da bi u ovoj godini strane direktne investicĳe trebalo da iznose 2,2 milĳarde evra kolike bi bile i u naredne dve godine. Očekuje se i porast nove devizne štednje za oko milĳardu evra u ovoj i narednim 2009. i 2010. godini.

Šta očekujete od bankarskog sektora u 2008. godini i koliko je on otporan na političke rizike?

Smatram da je naš bankarski sistem dovoljno stabilan da može da se odupre političkim krizama poput ovih aktuelnih, ali ne bi trebalo da izazivamo sudbinu. Banke koncentrišu

ogroman kapital i rade sa tuđim parama, što je velika odgovornost koja ih obavezuje da budu dobro organizovane, uspešne ali i oprezne institucĳe. Za banke je na duži rok izuzetno važno da je u zemlji stabilno makroekonomsko okruženje, dosledna politika razvoja, kompatibilan zakonski okvir i veća pravna sigurnost jer je, ne samo za stranog investitora, bitno da su njegova uložena sredstva na sigurnom. U uslovima restriktivne monetarne politike, oštre konkurencĳe i ambicioznih planova bankama u ovoj godini predstoje složeni zadaci. No, ipak u srpskom bankarskom sektoru, kao što

sam već istakao, danas se nalazi 35 odličnih učesnika na tržištu i ne postoji drugi privredni segment u kome postoji toliki broj firmi koje posluju na takvom nivou.

U prošlosti privreda je stalno tražila dobre

Od početka rada Kreditnog biroa izdato oko 6.000.000 izveštaja a vreme od unosa zahteva za izveštajem do njegovog dobĳanja je od pet do sedam sekundi

Foto

: Nik

ola

Mar

kovi

ć

�

bank

arst

vo �

- �

��

here occupies a special place. Its priority will be fiscal adjustments for a substantial fall that the public expenditures’ share has in the GDP. Decrease in public spending and fiscal deficit represent those factors that can reduce both the domestic demand and the foreign trade deficit. In addition, it is necessary to continue with the fiscal system reforms that are already offering incentives and are competitive in comparison with the regional neighbourhood, with the aim of creating favorable environment for growth of investments and employment. In this year, an accelerated i m p l e m e n t a t i o n of a broad front of structural reforms will be continued, which are typical of the second phase of transition: privatisation of s o c i a l l y - o w n e d enterprises and state-owned banks and insurance companies, up to its completion; starting up of privatisation of the companies in the field of infrastructure and public utilities, i m p r o v e m e n t of business and i n v e s t m e n t e n v i r o n m e n t , suppression of corruption, an efficient enforcement of bankruptcy legislature, etc. Amendments to the Law on Privatisation will allow, until the end of 2008, for the privatisation to be completed of the remaining 750 socially-owned enterprises. Privatisation was announced of the national Oil Industry and of the national air-carrier JAT, together with the adopted systemic law that now allows for a gratis allocation of 15% of the shares in six major public companies to be distributed to both the employees and

pensioners of these companies, but also to all the adult citizens in the country who have not until now availed themselves of this right in the privatisation process. The projections foresee slowing down of the real growth of personal spending and state consumption, a significant growth of investments and exports of goods and services.

Slowing down of inflation is also planned: in the year 2008 of 6%, in 2009 of 5% and in the year 2010 of 4%. We are witnessing an inflation that

already in the first three months of this year has surpassed the planned level for this period, and how high it will be by the end of this year will depend on a number of factors: a be�er balanced and controlled budget, control of earnings in the public sector, planned monetary policies of the National Bank of Serbia, stabilisation of the prices of oil and control of the growth of prices in the public sector, creation of a competitive e n v i r o n m e n t and protection of competition, elimination of disparity in administratively regulated prices, but

also, unfortunately, on the political situation in the country.

I am expecting, in spite of many uncertainties, that in this year there will be a moderate growth in the state indebtedness which in the year 2006 amounted to 61% of the GDP, so that in the years 2009 and 2010 it would be lowered. According to the plan, revenues from privatisation would be 1.8 billion EUR in the year 2008 and would be followed by similar

Dr Dugalić: The results achieved so far have led us to believe that we are on the right path and that we shall not give up on the new and even more complex tasks not only this year, but also in the future, and I hope that in our endeavours we shall find ready support of the banks - our members, but also of the National Bank of Serbia, Ministry of Finance, and

other relevant institutions

Foto

: Nik

ola

Mar

kovi

ć

��

bank

arst

vo �

- �

��

kredite a banke nisu bile u mogućnosti da ih obezbede. Danas je obrnuta situacĳa, banke nude kreditne aranžmane i traže dobre programe i kompanĳe gde bi mogli da plasiraju svoje kreditne aranžmane. Više, međutim, nĳe lako naći dobrog klĳenta i program. Zbog toga banke iznalaze nove bankarske proizvode i na taj način pomažu privredi da apsorbuje njihove ponude. Osim toga, banke imaju i savetnike koji daju predloge klĳentima koji su načini finansiranja najpogodnĳi, pokrenuta je i akcĳa “upoznaj svog klĳenta”, postoje i posebni ogranci koji se bave investicĳama i konsultantskim uslugama. Mnoge banke će i u ovoj godini biti orĳentisane na: razvoj i kreditiranje malih i srednjih preduzeća, porast asortimana usluga i nove načine kreditiranja. U ovoj godini, očekujem, da će se konkurencĳom postići još bolja pozicĳa za korisnike kredita i drugih bankarskih usluga. Naravno, krediti su samo jedan segment bankarskog poslovanja. Postoji čitav sektor drugih usluga. Banke će se, ne samo u ovoj godini, specĳalizovati i za poslove poput trgovanja hartĳama od vrednosti.

Svedoci smo da se kreditna aktivnost, pogotovo za stanovništvo, usporava u cilju suzbĳanja inflacĳe. Problem je što uzroci inflacĳe nisu samo u monetarnoj sferi. Mere monetarne i fiskalne politike moraju biti usaglašene i sinhronizovane. Do sada su uglavnom mere monetarne politike korišćene

za suzbĳanje inflacĳe i značajan teret regulatornih ograničenja podnosile su, a kako izgleda, podnosiće i dalje bankarski sektor.

Kako je u ovakvom m a k r o e k o n o m s k o m okruženju i dobro p o z i c i o n i r a n o m bankarskom sektoru poslovalo Udruženje banaka Srbĳe?

Tokom višedecenĳske aktivnosti, a Udruženje banaka postoji od 1921. godine, profilisano je jezgro poslova i zadataka na ispunjavanju

potreba banaka članica. U okviru toga, Udruženje banaka stremi izgradnji pozicĳe i jačanju reputacĳe bankarskog sistema u zemlji i inostranstvu. Takvo opredeljenje znači aktivan i kreativan pristup svim poslovima u Udruženju kako bi se što bolje upotrebili kvalitetni stručni resursi kojima ova institucĳa raspolaže.

Udruženje banaka u svim svojim

KIB: U ovoj godini planiraju se nove usluge kao što su i direktna plaćanja sa računa klĳenata banaka

Foto

: Nik

ola

Mar

kovi

ć

��

bank

arst

vo �

- �

��

amounts during the next two years, in order to reach in the year 2010 7.1 billion EUR from foreign loans. Ambitious plans are speaking that in this year foreign direct investments should amount to 2.2 billion EUR, and that they should continue in that amount over the next two years. It is expected also that the new foreign exchange savings will have the growth of around one billion EUR in this, and the next years 2009 and 2010.

What are your expectations from the banking sector in the year 2008 and how resilient is it to the political risks?

In my opinion our banking sector is sufficiently stable to resist political crisis like the ones that are now actual, but we should not be tempting fate. Banks are concentrating large capital and they work with other people’s money, which is a great responsibility that makes them accountable for being well organised, successful, but also very cautious institutions. For the banks, in the long run, it is extremely important to have a stable macroeconomic environment in the country, a consistent development policy, compatible legal framework and a greater legal safety because not only for a foreign investor, it is important that his invested funds will be secure. With a restrictive monetary policy, strong competition and ambitious plans, banks are faced this year with some complex tasks. Nevertheless, in the Serbian banking sector, as I have already pointed out, there are today 35 excellent players on the market and there are no other economic segments where there is such a large number of companies operating at that level.

In the past, the economy was constantly demanding good credits that the banks were not in the position to provide. Today, we have an opposite situation; the banks are offering

credit arrangements and are looking for good programmes and companies where they could place their credit arrangements. However, it is no longer that easy to find either a good client, or a good programme. That is why the banks are creating new banking products and in that way are helping the economy to absorb their offer. In addition, the banks are having also their advisers who are offering proposals to clients as to the most appropriate ways of financing, and also the action was launched “Know Your Client” (The KCY), there are special branches engaged in investment and consultancy services. Many banks will be focused this year on following: development and crediting of small and medium enterprises, expansion of the range of services and new manners of crediting. In this year I am expecting that the

competition will lead to the achievement of an even be�er position for the borrowers and clients using other banking services. Credits, of course, are only one segment in the overall banking operations. There is an entire sector of other services. Banks will start to specialise, and not only during this year, in other operations, like trading in securities.

We are witnessing now that the crediting activity, especially in the retail sector, is being slowed down, for purpose of curbing inflation. But the problem is that the causes for inflation are not to be found only in the monetary sphere. Monetary and fiscal policy measures must be well coordinated and synchronised. Until now we have seen only the monetary policy measures used to suppress inflation, with a

In February 2008, ASB organized two days session of the Credit Bureaux representatives from neighbouring countries

Foto

: Boj

ana

Neš

ić

��

bank

arst

vo �

- �

��

aktivnostima okrenuto je prema budućnosti i održivom razvoju poklanjalo je i u 2007. godini izuzetnu pažnju. To podrazumeva stalni razvoj informatičke podrške u celini i jačanje kadrovskog potencĳala koji može da realizuje ambiciozne potrebe bankarskog sektora i finansĳskog sistema u celini.

Nekoliko je stubova aktivnosti Udruženja: domaće bankarstvo, analitičke aktivnosti, upravljanje rizicima, bankarski poslovi sa inostranstvom, finansĳsko izveštavanje, ritejl bankarstvo, informatička podrška i platni sistemi, pravni poslovi, marketing, informisanje i izdavaštvo. U Udruženju banaka postoje i tri posebna organizaciona dela: Kreditni biro, Klirinška institucĳa banaka i Centar za bankarsku obuku.

Kreiranje savremenih usluga i novih proizvoda, kao trajnog opredeljenja UBS, osnova je njegovog trajanja i razvoja, ali i

odgovor na zahteve domaćeg bankarskog sektora, koji se polako ali sigurno svrstava u red savremenih bankarskih industrĳa.

Dinamičan uzlazni trend promena u bankarskom sektoru Srbĳe opredelio je i prioritete u poslovnoj orĳentacĳi Udruženja banaka kao jedini način da ono ostane dostojan poslovni partner bankama. Značajne oblasti za poslovanje domaće bankarske industrĳe Udruženje je pokrilo setom kvalitetnih usluga koje su u poslednjih nekoliko godina značajno olakšale rad banaka i pospešile njihov razvoj. Nabrojaću samo neke od aktivnosti na pružanju pomoći bankama: na planu upravljanja rizicima i približavanju međunarodnim standardima definisanim od Bazelskog komiteta za bankarsku supervizĳu, u poslovima uvođenja međunarodnih računovodstvenih standarda ali i brojnim promenama koji prate ovaj proces, početak realizacĳe velikog projekta razvoja osam

međubankarskih finansĳskih tržišta, realizacĳa Compliance funkcĳe itd.

Kreditni biro kao institucĳa nacionalnog obuhvata za monitoring i nadzor nad kreditnom izloženošću građana i pravnih subjekata - klĳenata banaka i drugih institucĳa osnovan je pre više od 4 godine. Njegove članice su sve banke, lizing kompanĳe, svi mobilni operateri, svi državni fondovi i agencĳe, kompanĳe za osiguranje i druge institucĳe u Srbĳi. Šalteri Kreditnog biroa su svi šalteri banaka a njih je oko 2.000 na celoj teritorĳi naše zemlje. Do sada je izdato oko 6 miliona izveštaja a vreme od unosa zahteva za izveštajem do njegovog dobĳanja je u proseku od 5-7 sekundi. To se postiže zahvaljujući najsavremenĳem hrdveru i so�veru, razvĳenom prema potrebi korisnika kako bi obezbedio potpunu zaštitu podataka o zaduženosti i do nedavno nezamislivog razvoja novih bankarskih proizvoda i brzine dobĳanja

Deo Revizorskog izveštaja Udruženja banaka Srbĳe

��

bank

arst

vo �

- �

��

significant burden of regulatory limitations born, and it seems will continue to be born, by the banking sector.

How did the Association of Serbian Banks operate in such a macroeconomic environment and well positioned banking sector?

Over many decades of its operation, and the Association exists ever since the year 1921, there was a profile created of the core tasks and duties aimed at fulfilling the needs of the member-banks. Within this framework, the Association of Serbian Banks is aiming at building up a position and strengthening the reputation of the banking system both in the country and abroad. Such an orientation means an active and creative approach to all the tasks in the Association, in order to use to its best advantage high quality professional resources that are available in our institution.

Association of Serbian Banks in all of its activities is future-oriented, and in the year 2007 was devoting particular a�ention to the sustainable development. This requires a continuous development of information technology support in general and strengthening of its human resources potential that would be able to realise ambitious needs of the banking sector and the financial system in general.

There are several pillars in the activities of the Association: domestic banking, analytic activities, risk management, foreign banking operations, financial reporting, retail banking, IT support and payment systems, legal affairs, marketing, PR and publishing activities. At the Association of Serbian Banks there are also three specialised organisational units: Credit Bureau, Bank Clearing Institution, and the

Banking Training Centre. Creation of modern services and new

products, as a permanent objective of the ASB, is the basis of its continuation and development, but also a response to the demands of the domestic banking sector, which is slowly but surely moving towards the ranks of the most sophisticated banking industry.

Dynamic upward trend of changes in the banking sector of Serbia has also set up the priorities in the business orientation of the Association of Serbian Banks as the only way for it to remain a worthy business partner to the banks. Important fields in the business operations of the domestic banking industry the Association has covered with a set of high quality services, which have over the last few years significantly facilitated the work of banks and have supported their development. I shall mention only some of the fields of activities in

Part of the External Audit Report on the ASB

��

bank

arst

vo �

- �

��

traženih podataka.Rad Klirinške institucĳe banaka - KIB

zasnovan je na najsavremenĳoj opremi i so�veru koji garantuju saldiranje transakcĳa u najkraćem vremenskom periodu, pouzdano, stručno i efektivno. Udruženje banaka je, da podsetim, za ovaj projekat dobilo, novembra 2005. godine u Londonu, Evropsku nagradu za bankarske tehnologĳe zbog neverovatnog uspeha koji je korišćenjem nove tehnologĳe i reinženjeringa

procesa omogućio da se saldiranje čekova svih banaka u zemlji svede sa 12 dana na nepun sat. U prošloj godini nastavljen je intenzivan rad na razvoju infrastrukturnih, telekomunikacionih i aplikativnih rešenja u okviru KIB-a. Na poslovima kliringa čekova nĳe bilo ni jednog minuta zastoja, svi telekomunikacioni problemi uspešno su rešavani u hodu, obrađeno je 8.908.618 plaćanja, čime je ostvaren promet u međubankarskom kliringu čekova od 23.912.061 dinara. U 2007. godini krenulo se i sa pripremom implementacĳe so�verskog rešenja za direktna zaduženja između banaka.

Centar za bankarsku obuku je u prošloj godini kroz savetovanja, seminare, predavanja i konferencĳe za polaznike organizovao obradu najvažnĳih i najaktuelnĳih tema iz oblasti finansĳa i bankarstva, kao što su: Sprečavanje pranja novca, Falsifikati inočekova, stranog i domaćeg novca, Upravljanje mrežom filĳala, Bankarske garancĳe u spoljnoj trgovini, Upravljanje aktivom i pasivom, UCP 600,

Profilisanje klĳenata i analiza transakcĳa... Održano je 12 ovakvih seminara što je dvostruko više nego u prethodnoj godini. U 2007. godini održano je 7 savetovanja: Compliance funkcĳa u bankama, Bankfining, sa posebnim osvrtom na rizike u bankarstvu, Bankinfo, Finance and trade, Godišnji račun za 2007., uključujući tematiku interne revizĳe, Marketing i informisanje u bankama i Sekjuritizacĳa kao nova oblast u okviru pravne obrade novih

koncepata na finansĳskim tržištima.

Obrazovni program u okviru UBS uključuje polaganje pripravničkog ispita za zaposlene u bankama kao i pripreme za ispite prema programu ACI - The Financial Market Association. Osim savetovanja i seminara posebna obuka je kontinuirano tekla tokom cele godine za banke i druge korisnike usluga iz servisa Kreditnog biroa, KIB-a i međubankarskih tržišta.

U prošloj godini Udruženje banaka je nastavilo da širi saradnju sa inostranim institucĳama želeći da, kao njihov aktivan član, bude na izvoru informacĳa i najsavremenĳih bankarskih usluga i proizvoda, kao i standarda EU. Tako je UBS danas član: Interbalkanskog foruma udruženja banaka; Međunarodnog saveta bankarskih asocĳacĳa zemalja CIS, Centralne i Istočne Evrope; Evropske bankarske federacĳe, Brisel; Evropske mreže za bankarsku obuku; Komisĳe za bankarsku tehniku i praksu Međunarodne trgovinske komore u Parizu. Osim toga sarađuje sa: Banking Association for Central and Eastern Europe, Budimpešta; Asocĳacĳom Regionalnih banaka Rusĳe, Moskva; Agence de Transfert de Techologie Financiere, Luksemburg itd.

Sa ovako razgranatim opsegom aktivnosti, uz izuzetno angažovanje svih zaposlenih u Udruženju banaka bili smo ravnopravni učesnici na brojnim skupovima u zemlji i inostranstvu i pri tom smo nailazili na stručno uvažavanje, pohvale i priznanja. Posebno su se

Sa seminara Falsifikati inočekova, stranog i domaćeg novca

Foto

: Nik

ola

Mar

kovi

ć

��

bank

arst

vo �

- �

��

providing assistance to the banks: in the risk management area and harmonisation with the international standards defined by the Basel Commi�ee for Banking Supervision, in the introduction of international accounting standards, but also in a number of changes that are following this process, in the start-up of realisation of the major development project for eight interbank financial markets, implementation of the Compliance function, etc.

Credit Bureau, as an institution with national coverage for monitoring and supervision of credit exposure of citizens and legal entities - clients of banks and other institutions, was established more than 4 years ago. Its members are all the banks, leasing companies, all the mobile operators, all the state funds and agencies, insurance companies and other institutions in Serbia. Credit Bureau teller-desks are actually all the bank tellers, and they are over 2.000 throughout the entire territory of our country. Until now, some 6 million reports were issued, and the time from submi�ing the application for the report and up to its receipt takes an average of only 5-7 seconds. This is achieved thanks to the most sophisticated hardware and so�ware, developed for the requirements of the users in order to secure total protection of data on indebtedness, and until now unimaginable development of the new banking products and the speed of input of queries and receipt of requested data.

Work of the Bank Clearing Institution (KIB) is based on the state-of-the-art equipment

and so�ware which guarantee se�ling of transactions over the shortest possible period of time, in a highly professional manner and effectively. Let us recall that the Association of Serbian Banks has received for this project, in November 2005 in London, the highest European Award for Banking Technologies thanks to an incredible success which the use of this new technology and re-engineering of the process had allowed for the se�lement of cheques of all the banks in the country to be brought down from the initial 12 days to the present time of less than one hour. During the last year an intensive work was continued on the development of infrastructure, telecommunication and applications within the Bank Clearing Institution. In the cheques clearing operations there was not even a single minute of delay, all the telecommunication problems were successfully being resolved during the operations themselves, some 8.908.618 payments were processed, thus achieving a turnover in the Interbank clearing of cheques of 23.912.061 dinars. In the year 2007 preparations have started for the implementation of the so�ware solution for direct debiting between banks.

Banking Training Centre during last year through symposia, seminars, lectures and conferences for its audiences addressed of the most outstanding and actual topics in the field of finance and banking, such as the following: Prevention of money laundering, Counterfeit in foreign cheques, foreign and local currency, Bank Branch Network Management, Banking

Tradition 36 years long

11-122005

Bankarstvo

Udruženje banaka Srbije

9-10 2006

BankarstvoUdruženje banaka Srbije

11-12 20

06

BankarstvoUdruženje banaka Srbije

�

�

�

��

��

��

��

�

��

��

��

��

bank

arst

vo �

- �

��

u tome istakli poslovi KIB-a, Kreditnog biroa i Centra za bankarsku obuku.

U zemlji su posebno održavani kontakti sa relevantnim ministarstvima i drugim državnim institucĳama a na prvo mesto bih stavio saradnju sa Narodnom bankom Srbĳe koja je u kvalitetu posebno došla do izražaja u prošloj godini. Narodna banka izbegava direktno donošenje odluka i rešenja obavezujućeg karaktera za banke. Umesto toga, dopušta da Udruženje svojim preporukama bankama ukaže na to kako bi trebalo i na koji način da se ponašaju, a banke to prihvataju na zreo i odgovoran način. Vrlo smo zadovoljni tom dimenzĳom odnosa sa Centralnom bankom jer nam on omogućuje da usmeravamo naše banke i da se eventualno otklanjaju neke loše pojave, kao što je pretnja kreditne ekspanzĳe ili nekih oblika pritisaka na inflacĳu. Banke praktično komuniciraju sa Narodnom bankom preko svoje asocĳacĳe - a to je Udruženje banaka.

Sve ove aktivnosti verovatno bi bile manje poznate da UBS nĳe posebnu pažnju posvetilo informativnim i marketinškim aktivnostima, stalnim kontaktima sa novinarima, saopštenjima za štampu, izradom brojnih prospekata, flajera, učešćem na sajmu bankarstva i male privrede u Beogradu itd. Osim toga ima razvĳenu i izdavačku delatnost, u prošloj godini izadate su dve knjige: “Marketing u finansĳskim uslugama” autora Rože Klasensa i “Sistemi velikih plaćanja” Siniše Rankova. Udruženje je bilo uključeno i u izdanja Jugoslovenskog pregleda dokumenata Bazelskog komiteta:

“Komplajans i komplajans funkcĳa u bankama”, “Korporaciono upravljanje za bankarske organizacĳe”, “Implikacĳe repo tržišta za centralnu banku”, Principi upravljanja rizikom za elektronsko bankarstvo” i “Bazel II Međunarodna saglasnost o merenju kapitala”. Udruženje banaka već 36 godina izdaje časopis Bankarstvo i u prošloj godini je izašlo šest redovnih brojeva i specĳalni broj koji je dao prikaz bankarskog sektora u 2006. godini. Sajt UBS se redovno puni aktuelnim informacĳama i obaveštenjima i postao je nezaobilazan način komuniciranja sa zaposlenima u bankama. O kvalitetnom imidžu Udruženja banaka govori i nagrade na Sajmu knjiga i Grafima 2007. “Zlatni pečat za novogodišnji poslovni komplet”, druga nagrada za istoimeni komplet na već tradicionalnoj 11 po redu izložbi u Muzeju Vojvodine u Novom Sadu, kao i specĳalna priznanja žirĳa za kalendar i čestitku u konkurencĳi od preko 160 učesnika. Napomenuo bih da je godinu dana ranĳe na istoj izložbi Novogodišnji poslovni poklon za 2007. Udruženja banaka dobilo prvu nagradu u jakoj konkurencĳi svih marketinških kuća i velikih kompanĳa. Uspeh je mnogo veći ako se zna da ove poklone, koji su rađeni u štamparĳi Čugura Print, nĳe osmislila ni jedna marketinška agencĳa nego je rezultat rada zaposlenih u UBS i pomenutoj štamparĳi.

Ovaj kratak osvrt na poslovanje u 2007. godini ne bi bio potpun a da ne pomenem da je Udruženje banaka Srbĳe svrstano po veličini u red srednjih preduzeća i da je dobilo

izuzetne ocene nakon pregleda nezavisnog revizora Bilansa stanja, Bilansa uspeha, Izveštaja o novčanim tokovima i Izveštaja o promenama na kapitalu.

I na kraju, posle ovako plodnog rada u prošloj godini šta se planira u 2008.?

Saglasno impozantnoj tradicĳi i modernom pristupu zadovoljenja potreba svih članica Sa jedne od konferencĳa za novinare u Udruženju banaka

Foto

: Boj

ana

Neš

ić

��

bank

arst

vo �

- �

��

guarantees in foreign trade, Assets and Liabilities Management, UCP 600, Client Profiling and Transaction Analysis… Some 12 of these seminars were held which is twice the number of the seminars held in the year 2006. In addition, 7 symposia were also held in the year 2007: Compliance Function in Banks, with special focus on the risk management in banks, Finance and Trade, Annual Account for 2007, including the topic of internal auditing, Marketing and PR in Banks, and Securitisation as a new field within legal and legislative elaboration of the new concepts in the financial markets.

E d u c a t i o n a l programme within the scope of the Association of Serbian Banks also includes exam for apprentices employed in banks as well as the preparations for the examinations according to the ACI programme - The Financial Markets Association. Apart from symposia and seminars praticular training was continually taking place throughout the past year for banks and other users of Credit Bureau services, KIB and Interbank markets.

Association of Serbian Banks continued to broaden the scope of co-operation last year with the foreign institutions wishing to be present, as their active member, at the sources of information and the most advanced banking services and products, as well as EU standards. Today, the ASB is a member of the Inter-Balkan Forum of Banking Associations, of the International Council of Banking Associations of the CIS Countries, Central and Eastern Europe, of the European Banking Federation in Brussels, of the European Network for Training in Banking, Commission for Banking Techniques and Practices of the International Chamber of Commerce in Paris. In addition, ASB is also co-operating with the Banking

Association for Central and Eastern Europe in Budapest, Association of Regional Banks of Russia in Moscow, Agence de Transfer de Technologie Financiere in Luxembourg, etc.

With such well branched-out activities, together with outstanding engagement of all the professionals employed in the Association of Serbian Banks, we were equitable participants at a large number of meetings in the country and abroad, where we were met with professional respect, praise and recognition. Especially successful in this field were the activities of KIB, Credit Bureau, and the Banking Training Centre.

In the country, ASB especially maintained contacts with the relevant ministries and other state institutions, and primarily I would underline our co-operation with the National Bank of Serbia which has especially gained in quality during the last year. National Bank is avoiding direct decision-making and adoption of

solutions with the character that would be mandatory for the banks. Instead, it is allowing the Association with its recommendations for the banks, to point out in what way and how they should conduct themselves and the banks are accepting this in a mature and responsible way. We are very satisfied with this dimension in the relationships with the Central Bank because it is allowing us to streamline our banks and to eventually eliminate some negative occurrences, such as the threat of crediting expansion, or some forms of inflatory pressures. Banks are practically communicating with the National Bank through their association - and that is the Association of Serbian Banks.

All of these activities would have probably remained less known had the ASB not devoted particular a�ention to the PR and marketing activities, keeping permanent contact with the

Dr Dugalić: Slogan of ASB could very well be the following: “Future belongs to people who are identifying opportunities even before they become

apparent”!

Foto

: Nik

ola

Mar

kovi

ć

��

bank

arst

vo �

- �

��

imamo osnova da očekujemo da će Udruženje banaka biti u mogućnosti da prati i da u određenim aktivnostima vodi kada je reč o potrebama bankarskog sistema.

Nastavićemo sa svim dosadašnjim aktivnostima, neke ćemo dodatno usavršiti i razviti a unećemo i neke nove poslove o kojima će javnost biti na vreme i adekvatno informisana. Ovog puta nabrojaću samo neke.

U 2008. nastaviće se sa aktivnostima na dobĳanju, kompletiranju i sređivanju podataka u bazi KB o obavezama pravnih lica i preduzetnika prema ostalim poveriocima kao što su Poreska uprava, komunalna preduzeća, elektrodistributeri, određeni državni fondovi i agencĳe itd. kao i obezbeđenje podataka o uzetim deviznim kreditima pravnih lica i preduzetnika u inostranstvu.

U planu za ovu godinu bio je i skup kreditnih biroa zemalja iz okruženja koji je održan krajem februara. Na ovom skupu izneti su dosadašnji rezultati razvoja kreditnih biroa u Rumunĳi, Grčkoj, Kipru i počeci njegovog rada u Crnoj Gori, Makedonĳi i Bosni i Hercegovini. Prezentacĳa rada KB Udruženja banaka Srbĳe izazvala je pohvale od svih učesnika.

U KIB-u se u ovoj godini planira rad na novim proizvodima kao što su direktna plaćanja sa računa klĳenata banaka što je omogućeno Odlukom o obavljanju platnog prometa direktnim zaduživanjem računa, što će dati izuzetan kvalitet ukupnom platnom prometu zemlje. Predviđa se i poboljšanje transportne komponente u smislu njene propusne moći koja je sada 60.000 poruka na sat a težnja je da bude 600.000. Nastaviće se započeti rad na osposobljavanju sistema za kompletan žiro kliring, jer zaustavljanje razvoja kliringa čekova je neproduktivno i ne omogućava ekspanzĳu sistema koji pruža izuzetne mogućnosti za sve poslove koji imaju prefiks međubankarski poslovi od zajedničkog interesa.

Posebno ćemo se angažovati na početku rada Radne grupe za finansiranje lokalne samouprave, u sastavu predstavnika banaka i stalne konferencĳe gradova i opština, oko

Zlatni pečat za novogodišnji poslovni poklon Udruženja banaka Srbĳe

Dr Dugalić: UBS je danas član: Interbalkanskog foruma udruženja banaka; Međunarodnog saveta bankarskih asocĳacĳa zemalja CIS, Centralne i Istočne Evrope; Evropske bankarske federacĳe, Brisel; Evropske mreže za bankarsku obuku; Komisĳe za bankarsku tehniku i praksu Međunarodne trgovinske komore u Parizu. Osim toga sarađuje sa: Banking Association for Central and Eastern Europe, Budimpešta; Asocĳacĳom Regionalnih banaka Rusĳe, Moskva; Agence de Transfert de Techologie Financiere, Luksemburg itd.

Foto

: Nik

ola

Mar

kovi

ć

��

bank

arst

vo �

- �

��

journalists, issuing statements for the press, producing a large number of brochures, flyers, taking part at the banking and tertiary (SME) business fair in Belgrade, etc. In addition, Association of Serbian Banks has a well developed publishing activity and in the past year two books were published: “Marketing in Financial Services” by Roger Claessens, and “Systems of Large-scale Payments” by Sinisa Rankov. The Association was also involved in the publishing of the Yugoslav review of the Basel Commi�ee documents: “Compliance and Compliance Function in Banks”, “Corporate Governance for Banking Organisations”, “Repo Market Implications for the Central Bank”, “Principles of Risk Management in Electronic Banking”, and “Basel 2 International Agreement on Capital Measurement”. Association of Serbian Banks has been publishing “Bankarstvo” magazine for 36 years now, and during the last year six regular editions have been published and a special edition devoted to the presentation of the banking sector in the year 2006. The ASB website is regularly up-dated with actual information and notifications and has become

an indispensable manner of communication with the professionals employed in banks. The quality of image of the Association of Serbian Banks is best illustrated by the awards received at the Belgrade Book Fair and the Grafima Fair 2007. The awards “Golden Seal for the New Year’s business gi� set”, also the second prize for the same gi�-set received at the traditional, 11th Exhibition at the Vojvodina Museum in Novi Sad, and the special jury award for the calendar and the New Year’s greetings card were the awards won in the contest with over 160 competitors. I would also like to mention that one year earlier, at the same exhibition for the New Year’s business gi�-set for the year 2007 the Association of Serbian banks received the First Prize in a strong competition with all of the marketing houses and major companies. This achievement is so much the greater if we know that these gi�-sets were produced in the printing house “Čugura Print” from the designs created not by any marketing agency, but from the imagination and creative endeavour of the staff employed at the Association of Serbian Banks and the printing house itself.

This brief summary of business operations in the year 2007 would not be complete without recalling that the Association of Serbian Banks was ranked, according to its size, amongst the medium-sized companies and that it has received extremely positive evaluation a�er the examination, by an independent external auditor, of its Balance Sheet, Profit and Loss Statement, Cash Flow Report and Report on Capital Changes.

And finally, a�er such a fruitful work during the last year, what are the plans for 2008?

Concordant with the impressive tradition and a modern-day approach to the satisfaction of needs of all our member-banks, we have good reason to expect that the Association of Serbian Banks will be able to keep a step with, and in certain activities even assume a leading role, when speaking of the needs of the banking system.

We shall continue with all of our present activities, some of them we shall additionally upgrade and develop, but we will also

First Award for the business New Year’s gi� of the ASB at the tenth Annual Exhibition in Novi Sad

��

bank

arst

vo �

- �

��

organizacĳe sastanaka sa predstavnicima banaka na temu aktivnosti banaka Srbĳe u oblasti društvene odgovornosti i saradnje sa Agencĳom za mala i srednja preduzeća radi postizanja boljeg razumevanja procedura i ograničenja koje imaju banke i mala i srednja preduzeća.

Kada je u pitanju izdavačka delatnost sredinom ove godine planira se štampanje knjige “Principi novca, bankarstva i finansĳskih tržišta” trojice eminentnih američkih autora čĳa je knjiga do sada imala 11 izdanja u SAD: L. Ri�er-a, W. Silber-a i G. Udel-a i “Kratak uvod u bankarstvo” Rože Klasensa.

Očigledno je da je Udruženje banaka do sada uspešno realizovalo svoje ambiciozne planove i da tako

namerava da radi i u ovoj godini. Postoji li jednostavna formula za uspeh?

Dosadašnji rezultati su nas uverili da smo na dobrom putu i od novih još složenĳih zadataka ne samo u ovoj godini nećemo odustati a nadam se da ćemo za to imati podršku banaka - naših članica, Narodne banke Srbĳe, Ministarstva finansĳa i drugih relevantnih institucĳa. Smatram da su za uspeh jedne kompanĳe, pre svega, zaslužni stručni, ambiciozni i hrabri ljudi. Naš moto bi mogao da bude: “Budućnost pripada ljudima koji uočavaju mogućnosti pre nego što one postanu očigledne”!

Svetlana Pantelić

��

bank

arst

vo �

- �

��

introduce some other operations that will be in a timely and appropriate fashion announced to the public. This time, let me mention just a few of them:

In the year 2008 activities will be continued on the collection, completion and processing of database in the Credit Bureau on the credit exposure of legal entities and entrepreneurs towards other creditors, such as the Tax Administration, public utilities companies, power supply companies, certain state-owned funds and agencies, etc., but also collection of data on foreign exchange loans borrowed by legal entities and entrepreneurs abroad.

The plan for this year also scheduled the meeting of the Credit Bureaux of the neighbouring countries, and it was held in early March in Belgrade. Credit Bureaux current operation and development results were presented by Romania, Greece, Cyprus, and the initial steps in its functions in Montenegro, Macedonia, and Bosnia and Herzegovina. Presentation of work of the Credit Bureau of the Association of Serbian Banks was met with praises from all the participants at the meeting.

Bank Clearing House (KIB) is planning this year to work on new products, such as direct payments from the bank clients accounts, that was made possible by the Decision on payment transfers through direct debiting, that will yield an extraordinary high quality to the overall payment transfer operations in the country. It is also planned to improve transport components in the sense of their capacities, which are at present allowing for 60,000 messages per hour, and the target is to reach the capacity of 600,000 messages per hour. Work will continue on the upgrading of the system for complete giro clearing, because suspending development at the level of cheques clearing is unproductive and does not allow for an expansion of the system, which is offering outstanding possibilities for all operations bearing the prefix of Interbank operations of common interest.

We shall especially engage ourselves in the initial activities of the Work Group for financing of local communities, composed of the representatives from banks and from the permanent conference of towns and municipalities, in the organisation of the meeting with the bank representatives regarding the topic of the banking activities in Serbia in the field of social accountability and co-operation with the Agency for Small and Medium Enterprises, with the objective of gaining be�er awareness of the procedures and limitations that the banks have, but also the small and medium enterprises.

When speaking of the publishing activities, we are planning to publish in the middle of this year the book “Principles of Money, Banking and Financial Markets” by the three distinguished American authors: L. Ri�er, W. Silber and G. Udel, where this book had already had 11 editions in the USA, and also the book “Brief Introduction to Banking” by Roger Claessens.

Obviously the Association of Serbian Banks has so far realised successfully its ambitious plans and intends to continue doing so in this year. Is there a simple formula for success?

The results achieved so far have led us to believe that we are on the right path and that we shall not give up on the new and even more complex tasks not only this year, but also in the future, and I hope that in our endeavours we shall find ready support of the banks - our members, but also of the National Bank of Serbia, Ministry of Finance, and other relevant institutions. I think that for a success of any company the most deserving are primarily high professionals, those ambitious and courageous people working there. Our slogan could very well be the following: “Future belongs to people who are identifying opportunities even before they become apparent”!

Svetlana Pantelic

Documents

ZA USPEH SU ZASLUŽNI STRUČNI, AMBICIOZNI I · PDF filedevizni kurs, inflacĳa je svedena ... Dr Dugalić: Prošla godina je bila uspešna za banke u Srbĳi po ... bih kao bitno da