The banking system’s total assets grew year-on-year by 7 percent to P20.4 trillion as of endNovember 2021 from the expansion of funds, mainly from deposits, channeled to lending and investment activities. Bank credit growth was observed with total loan portfolio expanding year-on-year by 4.3 percent to P11 trillion as of end-November 2021, which is mainly attributed to real estate lending.
I can say with great pleasure that the National Bank of Serbia’s Action Plan for implementation of the NPL Resolution Strategy has been fully implemented, within the envisaged deadlines. Banks’ capacities have been strengthened, with improvements made in the field of application of accounting standards, transparency of bank operation, practice of forbearance and the development of the NPL market.