The first branch office in Serbia was opened today in Belgrade by the Turkish Halkbank, after acquiring the majority share of the capital of Čačanska bank.

The branch office of the Turkish bank was opened by Deputy Prime Minister and Minister of Tourism, Trade and Telecommunications Rasim Ljajić, the Turkish Minister of Economy Nihat Zaybekci, the ambassador of Turkey in Belgrade Mehmet Kemal Bozay and the Chairman of the Board of Directors of Halkbank Mustafa Aydin.

“As of today, Halkbank is starting to operate formally and legally and it is expected to increase competition in Serbia”, stated Ljajić, having received a certificate of appreciation from Halkbank.

Ljajić said that businesspeople and citizens have great expectations from the arrival of Halkbank in Serbia and expressed the expectation that this financial institution will meet those expectations through its operation.

“If it opened 33 branches in Macedonia, I expect it to open 100 in Serbia and employ around 1,500 people, since I assume they each need 15 employees”, said Ljajić and added that, based on the experience of Macedonia, this should help the growth of small and medium enterprises in Serbia.

The most important matter expected from Halkbank is to bring security of investment, because just the announcement in May this year that Halkbank will come to Serbia increased the interest of other banks for the Serbian market, said the Deputy Prime Minister of Serbia.

Minister Zaybekci emphasized the contributions of Minister Ljajić and the Government of Serbia in opening the branch of Halkbank in Serbia and expressed a belief that Halkbank will contribute to increasing investments and the economic cooperation of the two countries.

Zaybekci supported Turkish investments in Serbia and noted that the ministers of the region will consider the options for increased economic cooperation between Turkey, Bosnia and Herzegovina, and Serbia, an issue he will personally become engaged in, at tomorrow’s meeting in Sarajevo.

Halkbank will do in Serbia what it is doing in Turkey, stated Minister Zaybekci and noted that due to the two Turkish banks operating in Romania, the investments of Turkish investors in that country amount to around four billion euros.

During March this year Halkbank bought the majority share of the capital of Čačanska bank and its aim is not to be the largest in Serbia, but to have as many branch offices as possible, and to contribute to the doubling or tripling of economic cooperation and trade between Turkey and Serbia, noted Aydin.

Halkbank bought Čačanska bank in May of this year for 10.1 million euros, i.e. 76.74 percent of the capital of this domestic bank.

Halkbank was founded in 1938 and is the sixth bank in Turkey regarding its size, with over 900 branch offices and 17,000 employees in its home country.