Erste Bank realizes double-digit growth of credits and deposits in 3Q 2018 – NPLs drop to 1.8%
At the end of the third quarter of 2018, the amount of Erste Bank loans to retail and micro clients was 27.2% higher than at the end of 2017, equaling RSD 64.59 billion. Compared to late 2017 the deposits of retail and micro clients also grew by 11.9% to RSD 63.19 billion. As for the bank’s operations, its operating income was 7% higher at the end of the third quarter of 2018 than in the same period last year, whereas the operating expenditures grew by 11.6%. Compared to the same period in 2017, the bank’s operating profit is lower by 1.4% and amounts to RSD 2.11 billion, whereas, at the end of the third quarter of 2017, the bank realized RSD 2.14 billion.
AERO: Belgrade Airport saw near 500ths passnagmesr in October 2018
Belgrade Airport (AERO) reported 495,881 passnagers serviced in October this year, which is up 3% y/y. October is 26th monthin a row, with growing trend in number of pasnsbares, the statement says.
Largest European insurance event in Serbia in 2020
The Association of Serbian Insurers will organize the International Car Insurance Conference, the meeting of the Green Card System and the annual Conference of the EU Motor Insurance Directives, which will be the biggest insurance event in Europe. The decision to have the Association of Serbian Insurers host the conference, which will be held in a new format for the first time, was made unanimously at the meeting of the Green Card System held in Madrid. In addition to representatives of the national insurance services – green card services from 48 countries, the conference will be attended by representatives of guarantee funds, compensation bodies and information centers of the said countries, the Association of Serbian Insurers announced.
Bulgaria, Romania, Serbia, Greece eye joint bid for hosting 2030 FIFA World Cup
Four countries in Southeast Europe - Bulgaria, Romania, Serbia and Greece - plan to discuss a joint bid to host the 2030 FIFA World Cup, Bulgarian prime minister Boyko Borisov said on Friday. "We can jointly apply," Borisov said during a news conference in Varna following a meeting of the Bulgaria-Greece-Romania-Serbia high-level Cooperation Council. A footage of the news conference was posted on Borisov's Facebook page. The proposal for hosting the World Cup was made by Greek prime minister Alexis Tsipras and deserves to be discussed, Borisov added.
Stocks fall after wild session as conflicting trade news keeps investors guessing, European markets close higher on hopes of a US-China trade agreement, banks in the spotlight
Stocks traded in a wide range on Friday as investors digested different comments and reports on global trade, while Apple shares dented the broader tech sector. The Dow Jones Industrial Average closed 109.91 points lower at 25,270.83 after falling 300 points earlier in the session. The S&P 500 pulled back 0.7 percent to 2,723.06 as Apple's 6.6 percent decline dragged down other major tech names like Facebook and Alphabet. The tech-heavy Nasdaq Composite dropped 1 percent to end the day at 7,356.99.
Apple fell after the company's iPhone shipments for last quarter missed estimates. The company also offered light guidance and announced major changes to its reporting structure. These were enough to overshadow stronger-than-expected earnings and revenue.
Stocks initially surged after the Labor Department said the U.S. economy added 250,000 jobs last month. Economists polled by Refinitiv expected an addition of 190,000. Wages, meanwhile, rose 3.1 percent on an annualized basis in October for the first time since the recession.
Shares in Europe jumped on Friday on hopes of a trade agreement between China and the United States. The pan-European Stoxx 600 closed provisionally 0.33 percent higher with the bulk of sectors in positive territory at the last check. After a tricky October, the benchmark is reportedly now having its best week since December 2016. Autos and banks were among the best-performing sectors.
At the same time, investors are monitoring further corporate results. Erste Group Bank reported third quarter results with a beat on net profit. However, the stock had dropped 1.2 percent by the close of Friday.
There is also quite a lot of focus on European banks, with the European Banking Authority is due to release its latest stress test results at 5 p.m. London time. The Italian lender Banco BPM rose above 3 percent, ahead of the results and Ubi Banca was also higher by 3.3 percent. The Italian banking system is under special scrutiny on the back of the recent turmoil in the country's politics.