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Analysis of Financial Structure of the Serbian Banking Sector: Impact of the Financial Crisis


  • Snezana Popovčić-Avrić

    () (Faculty of Economics, Finance and Administration, University Singidunum, Professor)

  • Vule Mizdraković

    () (Faculty of Business, Singidunum University, Assistant Professor)

  • Marina Đenić

    () (Faculty of Economics, Finance and Administration, University Singidunum, Teaching Assistant)


In this paper, we will analyse financial structure of the banking sector in the Republic of Serbia and based on it conclude whether the financial crisis had an effect on it. The financial sector and banks especially got affected by the recent financial crisis. There are a considerable number of papers that address this issue, but they usually refer to the banking sector of developed countries. Therefore, the research sample in this paper covers the banking sector in Serbia – 31 commercial banks, considering their importance for Serbian economy and their overall reputation. We have analysed financial statements of these banks that submitted quarterly from 2009 to the third quarter of 2012. We have calculated the main financial ratios regarding the financial structure, which has been used for financial analysis of the banking sector by other authors. Results of the research show that the value of banks’ liquid funds in the observed period fell considerably, as did the investments in fixed assets. Furthermore, indebtedness of banks rose in the period from mid-2010 to end-2012, but banks’ liquidity remained at the same level, on average.

Suggested Citation

  • Snezana Popovčić-Avrić & Vule Mizdraković & Marina Đenić, 2013. "Analysis of Financial Structure of the Serbian Banking Sector: Impact of the Financial Crisis," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 2(2), pages 81-92.
  • Handle: RePEc:cbk:journl:v:2:y:2013:i:2:p:81-92

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    1. repec:cbk:journl:v:1y:2013:i:3:p:5-19 is not listed on IDEAS
    2. Christa Hainz, 2005. "Effects of bank insolvency on corporate incentives in transition economies," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 13(2), pages 261-286, April.
    3. Robert R. Bliss & George G. Kaufman, 2006. "A comparison of U.S. corporate and bank insolvency resolution," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q II, pages 44-55.
    4. Radoje Žugić, 2013. "Crisis management and the banking system in Montenegro," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 2(1), pages 5-19.
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    More about this item


    financial statements; financial ratios; Republic of Serbia;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages


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