Bloomberg News

Serb Loan Defaults Slow as Lending Grows, Bank Association Says

October 17, 2012

Oct. 17 (Bloomberg) --- The net rate of Serbian loan defaults fell in September while lending increased, the Association of Serbian Banks said.

Lendiong rose 0.8 percent to 2.176 trillion dinars ($25.51 billion), while the average net rate of late payments fell 0.5 percentage points to 13.5 percent, the Belgrade-based organization said today in a report. Late payments are defined as falling 15 days behind or longer for companies and 60 days or more for individuals.

The biggest improvement in September was among corporate clients as their average net defaults fell to 17.4 percent from 18 percent in August. The net rate was unchanged among individuals at 4.3 percent, according to the data compiled from all 33 commercial lenders in Serbia. Credit-card debt was little changed at 37.84 billion dinars.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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