Vakufska Banka becomes ASA Banka: Leading domestic bank continues expansion

(Patria) - Despite the fact that the whole world is in a global crisis, the largest domestic bank, ASA Banka, has maintained business stability, as evidenced by the recent merger of Vakufska Banka. Under the slogan of the new campaign "We will not stop", ASA Banka has once again confirmed its commitment to building the largest domestic bank, which will be a pillar of the Bosnian economy and population.

"An old Bosnian saying says that heroes are known in times of trouble, and every crisis actually shows us that. ASA Banka is the leading domestic bank in FBiH, and at the very foundation of our vision and mission lies the desire to be a stable and long-term partner to our fellow citizens and the economy, regardless of the circumstances. I often say that BiH is more than a market for us, and that is precisely why we will not stop. It is important for us that all segments of our society progress, and through our actions and business, we will provide the necessary support for that progress." Samir Mustafić, President of the Management Board of ASA Banka.

By merging Vakufska Banka, through the purchase of a majority stake in its shares by ASA Finance, ASA Banka will further strengthen its presence throughout BiH. The number of branches will increase from 20 to 37, while the collective will number more than 300 employees. Additionally, the Bank's assets will amount to approximately 900 million KM, and it is accompanied by a strong commitment to crossing the threshold of one billion. A strong domestic bank plays an important role for the banking market, while at the same time being an important factor in the country's economic progress, in the context of a more adequate response to the needs of the local economy, especially in crisis periods, points out Admir Čavalić, economic analyst.

"There are a number of specificities of the domestic economy, for the understanding of which not only local knowledge is needed, but also a strategic orientation for their understanding. A strong domestic bank is the foundation of a country's economic progress, as it is significant for financing small businesses and supporting the domestic economy, especially in crisis periods, when local companies and individuals need additional sources of financing. Long-term trust is the foundation of modern banking, and therefore there is a need for a strong domestic bank, as well as healthy competition from foreign/domestic banks. The current crisis further emphasizes the need for a stable source of financing, for both the economy and citizens." Čavalić added.

In parallel with the impact on the country's economy, strong market players also contribute to improving the quality of services in the industry. Thus, the standard of business in the banking sector today is based on a personalized and proactive approach to clients, innovations in creating new products and services, and the increasingly prevalent use of digital channels. ASA Banka bases its business on the same models and values, and together with its clients, builds success in the market.