Eurobank EFG savings bank announces expansion of business network in Serbia - 150 office prior to end of year

The Head of the Executive Board of Eurobank EFG Savings Bank, Stavros Joanu, estimated that the number of banks in Serbia, through new takeovers and mergers, would be decreased from current 37 to about 25.

Big European mergers and acquisitions will be later felt on the market of Serbia, since the effects first appear in the countries where these banks are dominant - he said.

Estimating that the "formula of success", after decrease in number of banks, will be the banking service, Joanu announced that EFG bank would respond to the growth of competition in Serbia by expanding the network. Prior to the end of the next year, that bank would increase the number of offices in Serbia to 150.

- The vision of Eurobank EFG, as a bank that is the third largest bank in size of business network and has more than 1,500 employees, is to become one of the three leading banks in Serbia - he added.