SEE-5 Banking Sector Overview 2022 & Outlook

Countries in Focus: Romania, Bulgaria, Serbia, North Macedonia, Albania

2022 Overview
Banking Underpenetration in SEE-5
General Information

 Key Takeaways:

  • SEE-5 banks’ operating environment improved in 2022, despite headwinds
  • Amid rising interest rates, SEE-5 banks saw their profits surge, continuing to outperform their EU peers
  • Against the backdrop of still high inflation, slowing -- but healthy -- economic growth and tightening financing conditions, SEE-5 banks’ profitability should come under (modest) pressure in 2023
  • SEE-5 banks’ strong fundamentals limit downside risks
  • Banking penetration in SEE-5 is low, in line with the region’s lagging income, suggesting that there is scope for further (strong) expansion


SEE-5 Banking Sector Overview 2022 & Outlook