VIDOVIĆ: BANKING SECTOR SOLVENT

BROD, OCTOBER 23 /SRNA/ – Republika Srpska Finance Minister Zora Vidović says the banking sector in Republika Srpska is liquid and solvent, which further confirms the entity’s financial stability.

“Until a few years ago, banks used to transfer their profits out of Republika Srpska, but now those profits remain here, which speaks to Srpska’s stability. Deposits are increasing, especially household deposits. People are choosing to invest their money, and term deposits are growing the most,” Vidović said at a press conference in Brod, following a session of the Republika Srpska Government. Vidović adds that many banks operate with foreign capital and that this segment of the financial system with successful performance makes her happy. When it comes to insurance, Vidović pointed out that automobile insurance still holds the largest share, but other types are steadily gaining ground. “Insurance companies are operating profitably. This year, we introduced fiscalization in that sector, and exceptionally good results are visible. That sector operated partly in the gray economy before, but that’s no longer the case, as can be seen in the sector’s growing capital,” Vidović explained. She noted that the insurance sector invests in securities and bonds. “We will advocate for the further development of life and property insurance in the coming period. The insurance sector will become an important financial pillarof Republic of Srpska,” Vidović concluded.