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Bank of China Serbian arm turns to 9-mo loss

Author Radomir Ralev
Bank of China Serbian arm turns to 9-mo loss Bank of China; By mailer_diablo (Self-taken (Unmodified)), via Wikimedia Commons

BELGRADE (Serbia), February 1 (SeeNews) - Bank of China's Serbian unit, established in January 2017, recorded a net loss of 306.3 million dinars ($3 million/2.6 million euro) in the first nine months of 2018, versus a profit of 136.8 million dinars in the like period of the previous year.

Bank of China Serbia a.d. Beograd recorded a net interest income of 151,000 dinars in the period under review, down from 382,000 dinars in January-September 2017, according to the interim financial statement of the bank posted on its corporate website.  

Total operating costs amounted to 3.4 million dinars in the first nine months of 2018.

The bank's loan portfolio amounted to 31.7 million dinars, while deposits stood at 1.045 billion dinars at the end of September.

In January 2017, Bank of China appointed former NBS governor Dejan Soskic and former Serbian economy minister Zeljko Sertic as management board members of Bank of China Serbia a.d. Beograd. Slavisa Aleksic, former manager at Findomestic Banka and Astra Banka, was appointed as executive board member.

Bank of China Hungary owns the entire capital of Bank of China Serbiaa.d. Beograd. The Serbian unit of Bank of China supports Chinese and Serbian companies jointly entering third markets and also offers services to retail customers.

(1 euro = 118.438 dinars)