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Acquisition of Eksimbanka
By acquiring Eksimbanka at the end of 2004, we became
number five in the Serbian banking market. The extensive
experience gained in various merger projects in the Group
enabled us to complete the merger of the newly acquired
bank with HVB Bank Serbia and Montenegro in the record
time of seven and a half months. Immediately after the integration
was completed, we launched an image campaign presenting
the merged bank, which operates under the name of
HVB Bank Serbia and Montenegro, to the market.
The focus of the former Eksimbanka was on small and medium-sized
businesses and private customers, optimally complementing
our strength in corporate banking. The bank’s modern
and extensive network of branches has brought the number
of our offices from 8 to 42 while increasing the number of
customers to over 100,000, including 12,500 business customers.
Business structure and development
Retail customers
In 2005, the focus of activities was on private customer business.
The strong growth of customer business exceeded
expectations: deposits reached € 94 m, up by about 60 % on
the previous year. Loans totalled € 113 m.
In May, HVB Bank Serbia and Montenegro and Eksimbanka
launched their first joint marketing campaign, which comprised
TV spots, advertisements in printed media and a directmail
initiative. The advertised products met with lively interest
from the public: our banking subsidiaries are the first institution
in the country to offer mortgage loans at very low interest
rates without a surety. The “Super Cash Loan” is another
innovative product tailored to meet local market needs; with
this product, the bank finances the required minimum own
resources of 20 %.
Corporate customers
We strengthened our position in the area of lending and customer
acquisition in the corporate customer segment, in the
face of more intensive competition in the banking sector and
despite the ongoing integration process. In the meantime we
have built up business relations with most large companies in
Serbia. Structured financing transactions – including project,
acquisition and infrastructure financing – have been added to
our range of activities. The market has welcomed this initiative.
Since February 2004 we have been active in the area of real
estate finance, where a business volume of about € 42 m
gives us a clear market leadership position. Our customers
include three out of four large foreign real estate development
companies with a commitment to the Belgrade market. Excellent
cooperation between our Serbian banking subsidiary and
the Vienna-based real estate specialists, and active participation
in major trade fairs and events, have contributed substantially
to the bank’s strong performance in this sector.
International Markets
Custody business is developing particularly well. This is another
area in which results far exceed expectations. Among the
assets under custody, bonds reached a volume of € 105 m.
Outlook
Operating as a universal bank, we aim to further increase our
market share in the next three years, with a focus on retail
customers. Guided by our motto “Your Bank of Trust”, we are
pursuing a growth strategy in the Serbian banking market. We
want to reinforce our market position in retail banking by
expanding our branch network. Our objective in real estate
business is to increase our market share of currently 30 %.
CEE Network of Bank Austria Creditanstalt in 2005 91