Serbia citizens and businesses owe 4,757.19 billion dinars to banks

On August 31, citizens and businesses in Serbia owed banks a total of 4,757.19 billion dinars (41 million euros). Of that sum, 2,161.30 billion dinars were owed by individuals, 2,493.62 billion by legal entities, and the remainder by entrepreneurs. The figures are published by the Association of Banks of Serbia and appear in the Credit Bureau's August report.

Year-on-year rise driven by household borrowing

The overall outstanding debt to banks on August 31 was 15.7 percent higher than a year earlier. Household liabilities increased most sharply, rising by 19.9 percent; entrepreneurs’ borrowing climbed by 13.6 percent, while obligations of legal entities grew by 12.3 percent.

As in previous months, cash loans remained the largest component of consumer borrowing at the end of August. Outstanding cash loans totalled 1,058 billion dinars, an increase of 20.6 percent compared with the same date last year.

Housing and renovation loans followed, with a combined balance of 918.02 billion dinars — more than a fifth higher year on year, up 20.3 percent.

Credit card usage also expanded: on August 31 there were 1,122,419 credit cards in circulation in Serbia, 2.4 percent more than a year earlier.

Photo: press material from the event