The European Bank for Reconstruction and Development (EBRD) has a 19.11 per cent equity stake in Opportunity Bank J.S.C. Novi Sad.  As part of its MSME (Micro, Small and Medium Enterprises) Financing Framework for Western Balkans & Croatia, the EBRD, through the multi-donor Western Balkans Fund will provide technical assistance funds to Opportunity Bank over the coming twelve months. The funds will allow the bank to strengthen its internal processes in the areas of risk management, internal audit and product development.

The technical assistance will be delivered by a consortium of three European consulting companies:

Grontmij | Carl Bro A/S is part of the Grontmij Group, one of the largest players in the European consultancy market. The company has many years of experience in implementing and managing projects. Grontmij | Carl Bro A/S has for more than 20 years undertaken numerous consulting assignments within all aspects of banking and financial sector development, ranging from policy and sector studies on bank supervision and restructuring to development banking and credit lines for enterprises in rural and urban areas.

The Belgian based European Savings Bank Group (ESBG) is an international membership association under Belgian Law that represents more than 900 savings and retail banks in 25 European countries.  Since the early 1990s the ESBG has offered consultancy services with the purpose of transferring knowledge and experience to retail banks and banking sectors worldwide.

The Italian based Experian Decision Analytics has developed a special focus on SMEs (Small and Medium Enterprises) and on the lending and leasing sectors, including provision of decision support tools for lending and leasing.  The company provides solutions for credit assessment, regulatory compliance, application and collection processing for international financial institutions.
The Local Project Manager is Richard Beasley, who commented:  “I and my colleagues on this assignment are looking forward to working closely with our counterparts at Opportunity Bank.  We will use our knowledge and experience to assist the bank in bringing its systems and processes in line with the best international practices.”

In reply, Vladimir Vukotić, member of Opportunity Bank’s Executive Board said:  “Opportunity Bank Serbia has grown significantly over the last couple of years, since its transformation into bank and this project will help us raise the level of expertise, skill and know-how along with the increasing numbers of clients and employees of OBS.”

Besides jams, handicrafts, sweets and honey from the mountain of Rudnik, manifestation „Days of Plum“, held in the village of Stragare near Kragujevac for the first time, offered a number of busines opportunities. Opportunity bank took care of the possibility of making new types of plum orchards, beginning of fruit production or processing and increasing the existing capacities. Great number of start-up plum producers were present at Opportunity Bank’s stand inquiring on how to discover the secrets of plum cultivation. Opportunity bank recognized good business ideas and offered all visitors a chance to receive start-up loans without previous business history.

There was dancing and singing, a medal was offered for the best „rakija“ made during the manifestation. Stew was simmering in the pot, the best stew was rewarded with a prize, as well as the best dry plum.

„Young people from Sumadija are leaving their villages, and we are afraid that soon there will be no one to cultivate the plums. It would be a pity because this fruit has been a recognizable brand of Sumadije for centuries...“, the president of the Strugare Municipality said. If through this manifestation, exchange of experiences, starting new businesses and employing new workers Opportunity Bank contributes to maintenance and development of this community, its success will be immense.

Entrepreneurship ideas “simmered”
alongside the stew



Manisfestation Somborski kotlić 2009, held on July 18 assembled a great number of citizens and entrepreneurs from Sombor and nearby villages. It began by opening the ''Old Crafts Street'' with 100 participants who offered their handicrafts on 40 stands.

Our Bank joined the traditional fish dish, 317 stews (and the same number of participants) finding it a good opportunity to host reputable entrepreneurs from Sombor. The atmosphere and the spirit of old crafts were the right reason to take part at this manifestation in the city where the Bank has a branch. Opportunity bank continues to support the growth and development of entrepreneurship and opens new opportunitites to the unemployed and economically disadvantaged.

In our opinion, small independent trade and craft shops, hair and beauty salons, small agricultural producers etc. need these smaller amounts and favorable conditions so as they could fight everyday’s problems, run uninterrupted business activities and generate regular income, avoiding debt slavery and repayment of large installments which burden the client’s business more than they facilitate it.

Opportunity Bank joined other banks in Serbia that have signed a contract on disbursing subsidized loans to entrepreneurs and medium-size companies with the Serbian Government. All parties interested in subsidized loans may make an inquiry regarding the procedure and terms and conditions in the nearest branch or credit office of the Bank.

Opportunity Bank receives loan from European Bank for Reconstruction and Development
5 MILLION EUROS FOR DEVELOPMENT AND EMPLOYMENT

Micro and small businesses in Serbia, which are extremely important for country’s economic development and fight against unemployment, will be able to count on 5 million EUR from the loan that Opportunity Banka J.S.C. Novi Sad (OBS) has received from one of its founders and shareholders – European Bank for Reconstruction and Development (EBRD). OBS, as a bank primarily commited to supporting and serving micro and small enterprises (MSEs) and entrepreneurs, as well as agricultural producers, will use this loan to contribute to mitigation of the economic crisis effects by continuing to provide loans to small businesses in Serbia.

„At the moment when the global economic crisis is showing its first detrimental effects on the Serbian economy, it is crucial that all businesses, but especially the small ones which are in the focus of our bank, get all necessary support from banks and financial intitutions in order to survive the forthcoming period. With the EBRD’s loan, as well as credit lines that have been secured from other sources, Opportunity bank will try to give its contribution to sustaining of the small businesses in Serbia.“ - said Vladimir Vukotic, member of Opportunity Bank’s Executive Board.

Chikako Kuno, Director of the EBRD’s Group for Small Business, said micro and small businesses are critical for economic development and for increasing employment opportunities, yet they often lack access to finance. “The role entrepreneurs play in promoting the transition towards a market economy cannot be under-estimated, and this is why we pay so much attention to this sector. This latest loan allows Opportunity Bank to expand its lending operations, and to support MSEs that would otherwise have little or no access to formal sector financing.” she added.

To date, Opportunity Bank has lent over €70 Million to micro and small businesses in Serbia, thereby creating over 5,000 new jobs and sustaining about 40,000 existing ones. The Bank is well-known for its  start-up loans, unique at the Serbian banking market and has excellent portfolio quality with as much as 99.5% repayment rate.