Volksbank plans to increase capital in Volksbank Serbia by more then 40m EUR

Volksbank plans to increase capital in its sister-company in Serbia, Volksbank Serbia, by more than 40m EUR. This was announced in Vienna on June 2nd.

- The proposal for increase in capital should be adopted at the meeting of the Administrative Board - the spokesperson of Volksbank International, Oto Andre, confirmed to Viennese media.

- In spite of the current political uncertainty, Volksbank International trusts in positive economic development of Serbia - said Andre and added that, therefore, that finance organization resumed application of the strategy for development of its sister company - Voksbank Serbia.

According to the data provided by that bank, Volksbank Serbia registered significant growth last year and it became one of the top ten banks in Serbia with the balance amounting to 680m EUR (growth by 45.5%).

The volume of bank's saving deposits was also increased, by 124%, which is the largest growth within the Volksbank group.

Volksbank Serbia was founded in 2003 and it now has 440 employees.