Visit of the Hungarian Bank Association

Category: International Cooperation 11 October 2021

Joint statement about the meeting in Belgrade of the Presidents of the Association of Serbian Banks and the Hungarian Banking Association

In addition to discussing rapidly developing bilateral economic relations, representatives of the two countries' financial sectors also talked in detail about the effects of their co-operation on further rapprochement between the Balkans and the European Union in the two-day meeting series concluded today.

First of all, bank CEOs reviewed current financial matters, including, in particular, the financial challenges posed by the restarting of the economy in the wake of the COVID pandemic. They listened to a report on the results of Hungarian family support schemes, and compared the responses of the two countries’ banking sectors to sustainability and digital challenges.

The meeting held with the Chief Executives of companies that play a key role in bilateral economic affairs was focussed on export/import issues, as well as on opportunities for mutual capital investments and the funding of various economic co-operation programmes. At a separate meeting held with the Vice Governors of the National Bank of Serbia, special emphasis was given to the development of financial relations between Serbia and the EU’s financial institutions, as well as to the supporting activities performed by the Hungarian Banking Association in this matter.

In his position as the President of the Hungarian Banking Association, Jelasity Radován himself emphasised with regard to the visit that "Hungary sees Serbia as a friend, an important partner in economic development and the gateway to the Balkans". He stressed that "Through this meeting we wish to promote not only the investments of Hungarian companies in Serbia and in the Balkans, but also the investments in Hungary of companies present in these regions. The common goal is to further boost trade and economic co-operation between our countries, in which the financial sector plays a key role." Finally, referring to the visit of Péter Szijjártó, Minister for Foreign Trade and Affairs to Serbia in August, he quoted the Minister’s words: "There is no strong European Union without enlargement and there is no enlargement without Serbia".

Representatives from the ASB emphasized the importance of the support of the state and the National Bank of Serbia since the beginning of the crisis caused by the Covid-19 pandemic, as that support has positively impacted financial stability, access to services, as well as the position of both the banks and their clients. The role of associations is important in fulfilling these goals, and the Association of Serbian Banks is dedicated to helping its member banks in their efforts towards serving the economy, clients and public.

Both delegations agreed on the importance of the development of future initiatives between the two banking associations.

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