Business Results Presented: ASA Bank Achieved Above-Market Average Growth

(Patria) - In 2023, ASA Bank achieved an impressive series of results that solidified its position as the leading domestic bank and the third largest in Bosnia and Herzegovina. A focus on stability, creating efficient and simple solutions for clients, and improving banking products proved to be the key factor in achieving these outstanding results. ASA Bank has once again made a significant leap in the BiH banking market, achieving above-average growth in all segments of products and services.

As of December 31, 2023, net profit after tax amounted to 46 million KM. The bank's assets as of December 31, 2023, stand at 3.026 billion KM, representing a growth of 210 million KM, or 7.5%, compared to the end of 2022. The loan portfolio amounts to 1.855 billion KM with a growth of 146 million, or 8.6% growth, while the deposit portfolio recorded a growth of 7.3%, reaching 2.615 billion KM as of the end of 2023.

"The bank's capital amounts to 366 million KM, and we emphasize that we are the Bank with the largest share capital in the country. If we analyze the very intensive period behind us, in seven years we have grown from a small bank to over 3 billion KM in assets today, which are impressive results we are extremely proud of. This success is primarily due to the dedication and commitment of our valuable employees, who, through a clear strategy and quality management structure, have achieved all set goals. This was only possible with people who truly love this project, which from the beginning aimed to build the largest domestic bank that can be a pillar for our economy and our citizens," stated Samir Mustafić, President of the Management Board of ASA Bank during his presentation, adding that in March, after the decision of the Assembly, a dividend of 22 million KM will be paid, which represents an increase compared to last year when 16 million KM was paid to ASA Bank shareholders.

Also present at the press conference were members of the ASA Bank Management Board, Aldijana Rakić, Edina Vuk, Davor Tomić, and Hasan Hasić, who spoke about the importance of digitalization in the services offered by ASA Bank, compliance with the highest technological and security standards, and an innovative approach to product and service development. All of the above, along with a high level of flexibility and speed of decision-making, and an efficient risk management approach, are key to meeting clients' financial needs.

During the past year, ASA Bank implemented a series of innovations and improvements in the mobile banking and digital services segment, which provide a simple user experience for clients' everyday needs.

"We have approached the gradual modernization of the ATM network, replacing approximately a quarter of the network with modern devices that are at the highest global level in terms of security and ease of use. In this segment, an innovative concept is also planned, which we will test this year with mobile devices to support tourism development, making our ATM service available even in places where tourists have not had that option before," they stated.

At the same time, carefully monitoring and applying both domestic and European Central Bank regulations, ASA Bank continuously adapts its Business Strategy to maintain resilience to potential economic challenges and continue its growth and development. This year, they will continue to support economic development with a special focus on the investment segment, energy efficiency, and micro, small, and medium-sized enterprise projects.

"This achievement confirms our strength as a systemic bank, capable of significantly impacting the country's economy. In line with our business orientation, which is focused on the needs of the population and the economy of BiH, ASA Bank offers its clients numerous benefits that other banks on the market cannot offer. Our focus is on providing quality banking services that support the growth and development of our clients, whether they are individuals, small and medium-sized enterprises, or large corporations," stated Mustafić.

As emphasized, in addition to all of the above, the strength of ASA Bank is also its Group ecosystem, which, in addition to banking and insurance from the financial sector, includes healthcare and digital business services, achieving diversification reflected in its approach, domestic strength, and understanding of market needs. With over 60 branches across FBiH and Brčko District, expansion into the RS region is planned for this year, with ASA Bank continuing to act in the interest of the growth of the BiH economy, the prosperity of individuals, and society as a whole.

Aware of the responsibility they bear as the largest and most influential domestic bank, ASA Bank is focused on numerous projects that improve the quality of life, the environment, and create better conditions for young people and local communities throughout BiH. At the same time, they invest in employee development by implementing additional training programs in line with the latest trends. With a clear commitment to further investments in new technologies, expanding the range of products and services, and improving business processes, ASA Bank is determined to remain a leader in providing banking services in the market of Bosnia and Herzegovina and to continue to be a strong pillar and support for the domestic economy and citizens of BiH."