The National Bank of Serbia published its first-quarter Trends in Lending report, showing that year-on-year growth in domestic loans to the non-monetary sector accelerated to 16.9% in March, excluding exchange rate effects. Household lending grew 20.9%, supported by eased credit standards, lower-income borrower measures and the youth housing program, while corporate lending increased 12.0% amid favorable borrowing conditions. Corporate loans rose by RSD 27.0 billion during the quarter, mainly through liquidity and working capital lending, while household loans increased by RSD 72.3 billion, driven by cash and housing loans. The bank lending survey showed tighter standards for long-term corporate loans but continued easing for household loans. Average rates on new dinar and euro corporate loans increased to 6.8% and 4.9%, respectively, while the dinar household rate remained at 8.3% and the euro-indexed household rate edged up to 4.7%. Asset quality remained stable, with the non-performing loan ratio close to its historical low at 2.09% and the capital adequacy ratio at 19.5%. Dinarisation of corporate and household receivables reached a record 39.7%, while the loan-to-deposit ratio rose to about 82% as deposits remained banks’ main funding source.
2026-09-01National Bank of Serbia
National Bank of Serbia reports year-on-year loan growth accelerating to 16.9% in March 2026
The National Bank of Serbia reported that year-on-year domestic loan growth accelerated to 16.9% in March, led by 20.9% growth in household lending and 12.0% growth in corporate lending. Household credit standards eased, while standards tightened for long-term corporate loans. The non-performing loan ratio remained near its historical low at 2.09%, and capital adequacy stood at 19.5%.