Furthermore, a large share of that lending was interest only for the first 5–10 years of the loan – that is, the loans were not being amortised for a very long time. And this behaviour was being fuelled by competition between the banks. Individual banks were reluctant to pull back because if they did so, the business would go to their competitors.
I would like to take a look at developments in the international environment which for quite a while have posed a challenge to Serbia, as well as to all small and open economies, which is why it is important that we preserve macroeconomic stability and improve our business ambience.