JOANU: Serbia's market can host about twenty banks

- We were the most successful bank in Serbia in 2006 as far as development speed is concerned. But, the year 2007 may be a critical one for us, because we've set a very ambitious goal, which is to become one of the three biggest banks in Serbia - says Stavros Joanu, the Head of the Executive Board of Eurobank EFG Savings Bank.

(Stavros Joanu)

- We've started more aggressively, so that we alreadt register some good results. We have also founded a leasing company and, in that way, entered the sphere of real estates. At the beginning of 2007, we plan to buy a broker company, because our opinion is that the Belgrade Stock Exchange is still developing and that there will be a plenty of work in that field in the following years. Also, we have an ambition to found an investment fund, because we believe that the clients will move from the traditional savings to the opportunities offered by these funds - Joanu points out.

As far as competition is concerned, the Head of the Executive Board of Eurobank EFG SAvings Bank is of the opinion that there is much space for the arrival of new banks in the following period, but there is enough room for only one or two bigger banks, such as Citibank or Deutsche bank.

However, he estimates that the remaining smaller State-owned banks will find partners and that total of twenty banks will operate on Serbia's market in two or three years.