Raiffeisen Bank Serbia: Working With Institutional Clients

The banking sector is confronted with significant challenges, notably the high level of competition among 20 commercial banks and the increasing presence of fintech companies and other non-traditional financial service providers. This competitive landscape underscores the urgent need for digital transformation, as banks must continuously adopt advanced technologies to deliver superior digital services that align with customer expectations.

Furthermore, local regulatory frameworks pose additional complexities. Local regulations regarding the KYC process and local regulations governing payment processes are more stringent compared to those in the European Union. These conservative and restrictive regulations inhibit banks from opening accounts for non-resident payment service providers, particularly within a small market controlled by the National Bank of Serbia (NBS). 

Addressing these regulatory challenges while advancing digital capabilities is essential for sustaining competitiveness and fostering growth in this segment.

RBRS is acknowledged to be one of the leading banks in the market, the first bank regarding profitability -  and the third as per total assets in Serbia. As a universal bank, we offer all types of banking services in accordance with Western standards, while at the same time understanding the specifics of the local financial market. We develop our business activities in three segments: retail banking, including business with small enterprises and entrepreneurs, corporate banking, as well as treasury and investment banking. We take great pride in our timely recognition of the profound changes brought about by digitalization. By developing advanced digital channels, we deliver superior user experience to our clients. This commitment has earned us prestigious awards, including the "Global Finance" award for 2024 and Serbia’s “Best Cash Management Bank” award for 2024.    

The bank’s INFOPORTAL (IPORTAL) platform offers comprehensive digital services, facilitating the full exchange of contracts, requests, notifications, and other essential documents with the bank. This platform provides a centralized location for all interactions, eliminating the need for clients to visit a branch office in person. The recent upgrades and redesign of iPortal have significantly advanced its functionalities, offering a more sophisticated and user-friendly experience: overview of payment cards on iPortal, KYC enhancements of existing functionalities, display of e-mail addresses for client notifications and many more features.

The primary strategic objectives are focused on enhancing collaboration and achieving service and product excellence, alongside developing an efficient business model for institutional clients:

• Continuous adaptation of digital technologies to enhance payment solutions for non-bank institutional clients: This initiative aims to deliver a comprehensive suite of client-friendly functionalities, thereby increasing platform utilization and ensuring a superior customer experience.
• Implementing cross-selling initiatives to offer clients an extensive range of financial products and services, including Cash Management, Custody, Trade Finance, Credit Products, Capital Markets, and Investment Banking. This strategy is intended to deepen client relationships.
• Strategically increasing the volume and number of FX clients within the foreign bank segment to drive growth in foreign exchange revenue collection.
• Contributing to environmental conservation efforts while setting a precedent for innovation in eco-friendly financial solutions.
  

In alignment with ESG principles and our commitment to environmental sustainability, we have introduced payment cards made from recycled plastic. This initiative is the first of its kind in our banking market and underscores our dedication to preserving natural resources and reducing environmental pollution by integrating sustainable materials into our product offerings.

In June 2022, Raiffeisen INVEST founded “Raiffeisen Green“, the first ESG investment fund in the Serbian market, soon followed by the second ESG fund “Raiffeisen Alternative“. Both funds are investing into shares and bonds of companies protecting the environment, treating their employees fairly, contributing to the social environment and with transparent corporate governance. The fund Raiffeisen Green is investing primarily into ESG bonds, while the fund Raiffeisen Alternative is investing primarily into ESG shares.

The IC team is comprised of three highly experienced and efficient professionals: two IC Relationship Managers and one Product Officer. Together, they manage a diverse portfolio of 269 clients, which includes banks, insurance companies, pension funds, asset managers, payment service providers, as well as a considerable number of embassies and other international central government organizations. Our scope of work includes managing accounts and all correspondent banking matters, monitoring existing and establishing new limits for counterparts and sovereign limits. 

This team is instrumental in maintaining and enhancing client relationships while ensuring the delivery of tailored financial solutions to meet the unique needs of each client segment. Our team is fully operational for all clients’ requirements within the scope of business of the IC segment focusing on sales and administration, directly lead by the Head of Treasury and IB Division. Over the past three years, the Institutional Clients (IC) segment has realized consistent growth in Gross Income, demonstrating our recognition as a reliable and trusted partner in the industry. This sustained growth reflects our commitment to delivering exceptional value and fostering strong, long-term relationships with our diverse client base.

Last year, with clients acknowledging RBRS as a trustworthy partner in trade finance and cash management, the IC team successfully executed several significant trade finance transactions with leading global banks. This enhanced our position in the sector even more and resulted in the doubling of GI. 

There are 19 insurance companies in the Serbian market, 13 of which are clients of RBRS. This client base incorporates all major players in the sub-segment, covering over 80% of the market.

Furthermore, the central government sub-segment has significantly advanced, managing a portfolio of 64 embassies and international central government organizations. Our cooperation with these clients has expanded over the years, driven by recommendations from satisfied existing clients. 

Long-term client relationships are a top priority for us, particularly with institutional clients, as these relationships are cultivated over the years and require consistent communication, transparency, and trust. Each segment within the IC business has distinct mandates and risk profiles, making the provision of tailored solutions a key differentiator for professional success.

The support from our families, friends, and managers is essential to our daily achievements. The positive atmosphere within our organization further motivates us to excel. As the RBRS IC team, our accomplishments have significantly influenced us. Our direction is guided by the success we observe in our business and the opportunities for future expansion. Working with inspiring colleagues and experienced customers, and witnessing the impact of our efforts, has fostered both personal and professional growth. This collective experience drives us to work even harder.

Want to know more about RBRS’ IC Team? Get in touch: fi_team@raiffeisenbank.rs

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