Poštanska štedionica (Postal Savings Bank) has become a key state creditor, lending over 800 million euros to the Serbian government and state-owned companies since this summer. The loans include financing for major infrastructure projects, such as the National Stadium and road construction, with the government acting as the guarantor for all these loans.
A significant loan of 42 billion dinars (359 million euros) was signed in June for the construction of urban infrastructure and the National Stadium. This loan has an 11-year repayment term and an interest rate of 7.7 percent. Poštanska also extended loans for related projects, including the construction of a tunnel and road infrastructure, totaling 725 million euros in recent months.
The bank’s credit activity has increased sharply, with a 25% rise in loans and receivables from customers between September 2022 and September 2023. However, Poštanska remains the sixth-largest bank in Serbia, with an 8.2% market share, and is the only state-controlled bank.
Critics, including economist Đorđe Đukić, have raised concerns about the lack of financial studies justifying the National Stadium project, noting that it is unlikely to be profitable. He also criticized the high interest rate and the reliance on taxpayer money for such projects. Despite these concerns, Poštanska’s role as a state-controlled bank makes it a primary source of financing for government projects.
