The six largest banks in Serbia collectively achieved a net profit of 1.1 billion euros in 2024, marking a 30% increase compared to the previous year, as reported by the Danas website.
This data only reflects the financial results of the six largest banks with assets exceeding five billion euros, as not all banks have published their financial statements for 2024, according to Beta.
For the second consecutive year, Raiffeisen Bank posted the highest profit. The Austrian bank earned 249.2 million euros after taxes, up from 182 million euros in 2023. In second place was Italy’s Intesa Bank, with a net profit of 229 million euros, showing a significant increase from nearly 180 million euros in 2023.
Hungary’s OTP Bank ranked third with a profit of 219 million euros, up from 143 million euros the previous year. OTP Bank’s expansion through acquisitions has solidified its position as one of Serbia’s largest banks.
Unicredit Bank, also based in Italy, came in fourth with a profit of 200.6 million euros, an increase from 157.7 million euros in 2023. Slovenian bank NLB Komercijalna followed in fifth place, with a profit of 141.6 million euros, an increase of around 13 million euros from the previous year.
Domestic bank AIK Bank secured the sixth spot, earning 82.2 million euros in profit, up from nearly 70 million euros in 2023. Additionally, AIK Bank owns Eurobank Direktna, which generated 14.9 million euros in profit, slightly higher than the previous year. Combined, the AIK-Eurobank group posted a total net profit of approximately 97 million euros.
Interest income remained the primary revenue driver for the banks, amounting to 1.64 billion euros for the six largest institutions, reflecting an 11% year-on-year growth. Fees and commissions also contributed significantly, rising by 16% to reach 580 million euros.
These six banks control over 60% of Serbia’s total banking market by asset size. Intesa Bank led the market with assets worth 8.8 billion euros, followed by OTP Bank with 8.1 billion euros. Unicredit and Raiffeisen Bank were in third and fourth place with slightly over 6.3 billion euros in assets each. AIK and Eurobank Direktna combined for 6.5 billion euros in assets, while NLB Komercijalna rounded out the top six with 5.5 billion euros.
In total, the six largest banks in Serbia reported combined assets of nearly 42 billion euros for 2024.
