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    NBS in the fight against bank cartels

    The National Bank of Serbia, which recently has revealed there are indicators that banks “make illegal agreements” on prices of their services, controls whether cartelization in this sector exists.

    We use all available capacities in order to conduct regular and emergency inspections of the legality of banks’ activities, and in order to protect users of financial services we check each spotted irregularity in an individual case with additional control of legality of a particular bank product or service, the “Novosti” daily published a statement from NBS.

    As a reminder, in mid-August Governor of the National Bank of Serbia Jorgovanka Tabakovic hinted at the possibility of cartel-like arrangements between banks, in regards to prices of services that they offer to clients. On that occasion she pointed out that “there will be work for central bank in that area” and “that this is being done by number, not only certain banks.”

    Central bank reminds that at the very proposal of the NBS a set of laws was adopted, for the purpose of abetting competition between banks, not just related to credit offer, but to other bank products as well, such as: current accounts, credit cards, online services, etc.

    Following the adoption of these regulations, each bank considers and decides in what way it will respond to incentives from those regulations, NBS points out.

    Izvor: Novosti

    Foto: BIZLife

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