On 20 February the Serbian news service Beta reported that commercial banks in neighboring

Montenegro

have no interest in taking part in the direct payment system run by the National Bank of

Serbia

(Народна банка Србије - NBS).

In 2007 the Central Bank of Montenegro (Централна банка Црне Горе – CBCG) put into place all of the legal measures necessary for banks in Montenegro to be able to join the NBS’s direct payment system, but sources at the CBCG tell Beta that only two of the country’s eleven banks chose to take part, and that both banks subsequently abandoned the system because they found cheaper and more efficient payment alternatives.

The CBCG also reports that – in the other direction – over the last five years banks in

Serbia

and in

Bosnia and Herzegovina

likewise have not indicated any interest in being included in

Montenegro

’s direct payment system, due above all to the relatively low volume of transactions.

In the month of January 2013 the NBS’s real-time gross settlement system (RTGS система) handled 10.23 million payments for a total of RSD 3,538.4 billion (€ 31.71 bln). During the same month the NBS’s clearing system (клиринг система), which handles smaller payments (up to RSD 250,000 – € 2,240), handled 4.30 million payments, for a total of RSD 34.6 billion (€ 0.31 bln). Finally, the NBS’s system of international and interbank clearing of foreign exchange payments (систем међународног и међубанкарског клиринга плаћања у девизама) in January saw a total of 2,556 foreign exchange payments for a total value of € 23.26 mln, with 23 participants. (One euro equaled 111.6013 RSD on 31 January 2013)

Sources:

Beta article: Banke nisu zainteresovane za platni promet sa Srbijom (2013-02-20 13:30)

NBS payment system statistics for January 2013: МЕСЕЧНА ИНФОРМАЦИЈА о раду RTGS система, клиринг система и система међубанкарског и међународног клиринга плаћања у девизама за јануар

A day earlier, on 19 February Beta reported that Telenor d.o.o.,

Serbia

’s largest mobile operator, is planning to enter into the banking business in

Serbia

. According to statements made to Beta by Ove Fredheim, the CEO of Telenor d.o.o., the company is considering three options: purchasing an existing bank, obtaining a banking license and opening a new bank, or providing financial services through a partnership. Martin Navratil, Telenor’s director of financial services in Serbia, told Beta that Telenor is the largest provider of financial services in Pakistan, while in Malaysia it offers financial services in partnership with banks, and in Serbia it does not plan to serve corporate clients but instead offer retail clients mobile banking, savings, and loans.

Telenor d.o.o. is 100% owned by Telenor A/S of Denmark, which in turn is owned by Telenor Danmark Holding A/S, part of Norway’s Telenor Group.

Sources:

Article: Potvrđeno: Telenor osniva banku (2013-02-19 16:11)

Business registry info on Telenor d.o.o.: Претрага привредних друштава: TELENOR D.O.O. BEOGRAD

On 18 February the Serbian newssite eKapija published a statement by Abu Dhabi’s First Gulf Bank denying an earlier press report that the bank plans to expand operations into

Serbia

. In the short statement, the bank firmly denied any intention to undertake operations in

Serbia

. The bank’s denial follows on a 1 February report by the Serbian newspaper Blic asserting that the bank was in fact in the midst of negotiations to acquire the small Serbian commercial bank Dunav Banka.

First Gulf Bank PJSC (شركة مساهمة عامة بنك الخليج الأول), headquartered in Abu Dhabi (UAE), is the second largest lender in the UAE. The bank is owned 67% by Abu Dhabi’s ruling Al Nahyan family.

Sources:

First Gulf Bank has no plans to operate in Serbia (2013-02-18 15:49)

Дунав банка понуђена на продају Арапима? (2013-02-03)

In earlier news, on 12 February the National Bank of

Serbia

announced that it would not be participating in the class-action suit against three banks filed by the consumer association “Efektiva”. The association, composed of bank customers, on 5 February filed suit in the First Basic Court in Belgrade against the commercial banks Hype Alpe-Adria-Bank, Piraeus Bank, and Eurobank. Efektiva is seeking redress for loan customers of the three banks who were adversely affected when the banks in 2011 drastically hiked loan payments on existing Swiss-franc-denominated loans and mortgages after rapid appreciation in the Swiss franc (CHF). The association states that this is the first class-action suit ever filed in

Serbia

The association is basing its case in part on Art. 3 of the EC’s Council Directive 93/13/EEC of 5 April 1993, asserting that the article implies that consumers are not liable for contracts they sign if possible major adverse consequences are not explained to them in advance.

The central bank stated that it would not be possible for it to participate as either an intervener or a plaintiff in the suit, as Serbian law precludes the regulator itself from either initiating or supporting either side in lawsuits involving consumer rights.