"Customers not boycotting foreign banks"

A Raiffeisen Bank official says that the anonymous call to citizens to boycott foreign banks has been ignored.

Izvor: Beta

Saturday, 01.03.2008.

12:11

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A Raiffeisen Bank official says that the anonymous call to citizens to boycott foreign banks has been ignored. In an interview with the March issue of Bankar magazine, Raiffeisen Serbia Vice-President Zoran Petrovic said that the call to boycott banks from countries recognizing Kosovo's unilateral independence declaration had not led to any capital being withdrawn from banks. "Customers not boycotting foreign banks" He said that he was sure that the opinions expressed in that call were “a short-term emotional reaction.” According to Petrovic, Raiffeisen employs 2000 people in Serbia and serves over half a million clients, is politically neutral and will continue to invest in development, and to employ citizens. He said that the possible fall in the influx of foreign capital because of the political situation had “led to” inflation and weakened the dinar. “Initially, foreign reserves could be spent, but to depress the dinar rate quickly, imported goods would become more expensive which would lead to inflation, and citizens who've taken out loans with foreign currency clauses would pay higher installments,” explained Petrovic.

"Customers not boycotting foreign banks"

He said that he was sure that the opinions expressed in that call were “a short-term emotional reaction.”

According to Petrović, Raiffeisen employs 2000 people in Serbia and serves over half a million clients, is politically neutral and will continue to invest in development, and to employ citizens.

He said that the possible fall in the influx of foreign capital because of the political situation had “led to” inflation and weakened the dinar.

“Initially, foreign reserves could be spent, but to depress the dinar rate quickly, imported goods would become more expensive which would lead to inflation, and citizens who've taken out loans with foreign currency clauses would pay higher installments,” explained Petrović.

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