Awards for Excellence country winners – Bosnia and Herzegovina

Despite a local economic slowdown, Bosnia and Herzegovina’s banking sector remained healthy in 2023 for growth, profits and asset quality. It is a market that UniCredit Bank Mostar and Raiffeisen Bank dominate in terms of market share, and this year UniCredit – led locally by chief executive Amina Mahmutović – retains the award for the country’s best bank.

UniCredit made profit after tax of KM162 million ($89 million) in 2023, 44% higher than the year before. Revenues from both net interest income and fees and commissions rose healthily, the latter largely due to its cards business.

Gross loans to customers including leasing rose by 8% annually, while current accounts and customer deposits rose by 8.5% over the previous year. The bank’s return on equity reached 19.6% and its cost-to-income ratio was 43%.

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