Favorable residential credits soon – the amount of approved citizens’ credits in Serbia will be growing by 30% at a time

In the next three years the amount of approved citizens’ credits in Serbia will be growing for more than 30% a year, as it was estimated by the International UniCredit Bank group. According to the research done by this bank, Serbia, Romania and Baltic countries will be on the third place by the growth of citizens’ credits in the Central and Eastern Europe, right after Russia and Ukraine, where it is expected a growth of 50, that is 60% a year.

According to data by the Credit bureau, at the end of the last year, citizens of Serbia were paying up a total of 195 billions dinars of credit, while in the first 5 months of this year, this amount has been increased for 20%.

This will probably be the most dynamic segment in the next three years, on the banking market in the region, because of the continues growth of the living standards, estimate the experts of UniCredit bank.

As they point out, the biggest potential of growth is with residential credits which are 7% of the gross domestic product in Central and Eastern Europe, while in the Euro zone they are 38% of BDP.

- The banks which are doing business in the region, will be looking for ways to decrease those differences, and therefore we expect that new products will appear in this area, which will additionally speed up the process of equalizing. – was said by the economists in UniCredit bank.

They also predict that the extents of crediting in the Central and Eastern Europe will be growing averagely for 29% in the next three years, while citizens’ savings for about 23% annually.