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2019, vol. 22, iss. 86, pp. 67-82
article language: Serbian
document type: Review Paper
published on: 09/03/2020
doi: 10.5937/Rev1986067O
Assessment of bank corporate governance in Serbia
UniCreditbank, Beograd



The significance attached to successful corporate management of banks primarily originates in the importance that banks play in the financial and economical system of a country. There has been a global spike in interest in the quality of corporate management of banks after the onset of the World Economic Crisis in 2007/2008, the consequences of which are still visible today. Paralel to the transformation of our country's economic system, we have also witnessed changes not only to the banking system, but also to the concept and quality of corporate management of banks in Serbia. Ownership transformation of an economic system involves strong penetration of foreign banks, by means of acquisition of domestic banks or founding of new ones. The introduction of foreign banks brought new sources of financing to the Serbian economy; in addition, the regulatory and legal frameworks for operation and functioning of the banking sector changes, as the country gradually integrates into the standards of the European Union. On the other hand, the arrival of foreign banks raised the quality of corporate management, resulting in greater earning power of those banks. The quality of corporate management in the domestic banks with private and state capital is adapting to new regulatory and market conditions. The quality and speed of those adaptations correlate closely to the market challenges imposed by the banks with foreign capital. Therefore the aim of the analysis of quality and particulars of corporate management in domestic banks with domestic capital is precisely to analyze and implement the standards of corporate management used in the banks with foreign capital. The goal is to raise and improve the quality of their corporate management, especially the policies for operation of Boards of Directors and audit commit-tees, the role of independent risk units, the operation of internal audit, as well as the application of market principles of operation and functioning.



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