Statement by the President of the Executive Board of API Bank Marija Stepina about business results in 2018

2018 was a year that brought important changes to API Bank. On July 25 the bank changed the owner. The new shareholder is a private person from Russia Mr. Shlyakhovoy.

On October 19 the bank was renamed into API Bank (full registered name API Bank JSC Belgrade). By the end of the year all changes to the composition of the Executive board and Board of Directors of the bank were implemented.

Being a small bank on the Serbian market carries its advantages. Our strategic vision is to use our ability to implement new services fast while using strong expertise of our team of working on EU banking markets in order to transform operating model of the bank to better address the needs of existing and new clients. We consider ourselves to be niche bank and our success is based on our ability to find and implement innovative banking solutions.

We view modern generation of banking product users who demand speed of execution and convenience of service from the bank as our target group of clients. By developing our technological platform for remote client servicing we will also improve efficiency of corporate lending products, trade finance in particular. We are committed to contribute to the development of the Serbian economy by the way of financing domestic businesses.

Risk management and income diversification is of key importance for us.

In 2018 income from foreign exchange operations amounted to 48,8% of our net operating income before provision expense, net interest income stood at 43,4% and net commission income – 7,8%. Our plan is to substantially increase share of commission income and gradually increase share of net interest income while using conservative approach to assessing credit risk.

It is worth noting that 2018 was the first year since 2012 that the bank operated with a profit, which amounted to 30,358 thsd. dinars. Liquidity ratio of the bank as of 31/12/2018 stood at 6,34 and Capital adequacy ratio amounted to 26,46% which is indicative of a very strong liquidity and capital position providing strong base for further development of API Bank.

We are thankful to our loyal clients, trusted partners and highly experienced employees and we promise to make our best efforts to keep our services to the highest banking standards and strengthen our cooperation.

Marija Stepina,
President of the Executive Board