Banking Sector
Commerzbank, Germany
ABOUT COMMERZBANK
- Commerzbank is one of the leading German banks and providers of financial services for private customers in Germany as well as a relationship bank for the German "Mittelstand", for major corporations and institutions in Europe as well as multinationals.
- With a strong international network comprising offices and shareholdings in more than 40 countries, Commerzbank is a universal bank providing retail, corporate, public-sector and investment banking services.
- Commerzbank opened its Representative Office in Belgrade in 2004 and in 2006 the responsibility of the office was expanded to Macedonia.
WHY SERBIA?
- Commerzbank is considering CEE as one of its core markets, where it has a particularly long tradition.
- Participating and contributing to the rapid progress in the development of Serbia's financial sector, Commerzbank joined the group of founding shareholders of ProCredit Serbia in 2001 (16,7% invested).
- The scope and the speed in the development of trade and business relationships between Serbia and Germany determined Commerzbanks decision to open a Representative Office establishing a physical presence in Serbia - the biggest market in the region.
SERBIA - THE EXPERIENCE
- A significant part of Serbia's international payment transactions and of the bilateral trade is handled, facilitated and/or confirmed by Commerzbank with the bank's overall business volume in Serbia being continuously growing.
- The bank has managed to establish correspondent relationships with all major local commercial banks.
- The success of ProCredit Serbia growing into a major player in the domestic banking industry underpins the good experience of Commerzbank in Serbia.
FUTURE PLANS
- Commerzbank plans to further expand its range of services it offers on the Serbian market.
- In line with Commerzbanks ongoing expansion in Eastern Europe, the recent purchase of Bank Forum in Ukraine, the extension of direct banking activities from Poland to Czech and Slovakia, the opening of a Representative Office in Baku, the bank would also examine arising opportunities in the region including Serbia.
RECOMMENDATIONS
- Serbia is an emerging economy right at the doorstep of most European countries!
