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The Government of the Republic of Serbia

In the service of citizens

Dinkic talks with management of Intesa Sanpaolo Group

Belgrade, 14 October 2009

Serbian Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic talked today with a delegation of the Intesa Sanpaolo banking group led by its CEO Corrado Passera.

Dinkic said that he is pleased that Banca Intesa Belgrade, as a member of the Intesa Sanpaolo Group, has supported the Serbian government’s measures for dealing with the global economic crisis and has made available subsidised loans of more than €250 million to businesses and the general public.

He said that since the start of the implementation of these measures, Banca Intesa distinguished itself by becoming the bank to contribute the most to loan programmes.

Passero said that Banca Intesa Belgrade has achieved good results and as a leading bank in Serbia has shown its strength and stability even during these times of crisis, adding that the bank has continued with its loan programmes and has supported its clients in crucial moments.

The meeting was also attended by Head of the International Subsidiary Banks Division Giovanni Boccolini, President of the Banca Intesa Belgrade Executive Board Draginja Djuric and Italian Ambassador to Serbia Armando Varricchio.

Dinkic informed the delegation about the latest macroeconomic indicators, saying that Serbia has succeeded in maintaining macroeconomic stability during the crisis.

Representatives of Intesa Saopaolo confirmed that they are firmly committed to the Serbian market and expressed their willingness to participate in the financing of various car industry, agricultural and infrastructure projects.

Intesa Sanpaolo has invested nearly €2 billion in Serbia up until now through acquisitions, recapitalization and direct loans and during the four years since its arrival in Serbia it has not once removed dividends from the country, rather has used them to consolidate the capital of Banca Intesa Belgrade, its bank in Serbia.

Intesa Sanpaolo, a leading bank on the Italian market and ranked fifth in the Euro Zone according to market capital, possesses the financial potential and expertise required for supporting the Serbian economy during its recovery period. It can also help make the Serbian economy more competitive and raise the standard of living.