Staermerkische Sparkasse profits hit €189m in 2018

Staermerkische Sparkasse achieved after-tax profits of €178m in 2018, the best results ever for the 200 year old company and higher than those expected for the western Balkan countries. The results, which were repeated in nearly all branches, were driven by an increase in its customer based and on stable costs. The group is reported to be planning further expansion in the Balkans, including the acquisition of Ohridska Societe Generale in North Macedonia. Last year Staermerkische Sparkasse added 45,000 new clients to its customer based, giving it around 2.7 million clients in Serbia, Croatia, Slovenia and Montenegro.