In 2018 alone,  3  over RSD 240 bn worth of new investment loans was disbursed, which is the highest level so far. This supported the profitability of corporates, which has been on a constant rise since 2015.
The result was a sharp widening of risk spreads in key funding markets. Leverage in the financial sector, which had contributed to higher profits during the financial boom, was now seen to be excessive. As financial firms moved to reduce their exposures, they became less willing to make markets, and the liquidity of many securities declined.