Banking Industry
Banca Intesa, Italy
The improved stability in Serbia coincided with the development of Banca Intesa in the SEE Region. In our opinion, Serbia has outstanding growth prospects, both on the market level (and therefore relative to consumer goods demand) and on the banking system level (given the present low stage of development), as well as financial services demand.
We have a long term vision in the Serbian market and we are certainly the foreign bank that has put more on the plate than any other financial institution which has arrived to Serbia in the past years.
Our investment is one of the largest in Serbia. It should also be mentioned that Banca Intesa was the leading investor in the country in the year 2005, accounting for approximately 1 of all foreign investments.
Our decision to acquire Delta banka is linked to three reasons: the value of the bank itself, excellent financial results, a good network of branches, and a large customer base. All this is owed to the work of the management and the entire staff of Banca Intesa – Beograd, whom we have found to be highly qualified and motivated.
A good deal of our expectations has been accomplished and we feel very comfortable in Serbia, both as investors and as people. We can sense the positive changes around us and that the country is making progress, although not as quickly as everyone would wish it to.
Our contribution will be to support the bank in developing its full potential, to reach a level of excellence and become a major player in the banking industry. At the same time we are in the process of evaluating other investment opportunities and our business plan foresees new job openings for young Serbs.
Banca Intesa wants to capitalize on Italy’s status as Serbia’s leading trade partner, and, therefore, we will serve as a bridge for Italian enterprises.
Mr. Massimo Pierdicchi
Head of International Subsidiary Banks Division – Europe
