Total of RSD 9.5 billion pumped into Postal Savings Bank and Dunav Osiguranje by Republic of Serbia

And while citizens are struggling to do something about their accounts with Srpska Banka, which deprived them of its services due to problems in operations, the state is trying to bring the Postal Savings Bank back to its feet. Namely, the Republic of Serbia has pumped a total of RSD 9.5 billion into the Postal Savings Bank and Dunav Osiguranje.

These capital increases were called for in the 2014 budget revision, and Serbia has become the owner of additional shares in these companies late last year. In that way, Dunav increased its capital by RSD 4.8 billion, while the capital of Postal Savings Bank grew RSD 4.7 billlion in total.

The Postal Savings Bank, thus, began the new year with a doubled equity capital totaling RSD 8.73 billion.

Over the last two years, the Postal Savings Bank has been under the burden of three failed banks whose clients and deposits it assumed. Nearly 100,000 accounts were moved from Nova Agrobanka to the Postal Savings Banks in the last days of October 2012 alone. PSB then assumed the clients of Razvojna banka Vojvodine and Privredna banka Beograd in October 2013. Finally, in January 2014, the central bank revoked the license of Univerzal banka whose clients were also assumed by the Postal Savings Bank. In that period, the state spent almost EUR 1 billion to repair damages in the banking system!

Banka Poštanska štedionica a.d. Beograd

Dunav osiguranje a.d.o. Beograd

Agrobanka a.d. Beograd

Razvojna banka Vojvodine a.d. Novi Sad

Privredna banka a.d. Beograd

UBB Univerzal a.d. Beograd

Agencija za osiguranje depozita Beograd

RBV

failed Serbian banks