A century and a half of banking tradition: Erste Bank celebrates 160 years since the founding of the Savings Bank of Novi Sad

Exactly 160 years ago, in 1864, the first financial institution on the territory of today’s Republic of Serbia was founded — the Novosadska štedionica, which today operates as Erste Bank.

Modelled after similar institutions in Pest and Buda, the Novi Sad Savings Bank was the first bank and the first financial institution in the region, catalyzing the development of the banking system in this area. Throughout its rich history of more than a century and a half, the bank underwent several name changes due to constant societal changes. After World War II, it became known as Privredna banka Vojvodine, but it operated the longest under the name that became synonymous with reliability and stability in the banking sector — Novosadska banka.

In mid-2005, the majority of shares in Novosadska banka were acquired by Erste Bank from Austria (Erste Bank der oesterreichischen Sparkassen AG), and from that year, Novosadska banka began operating as Erste Bank a.d. Novi Sad, becoming a member of the Erste Group. Interestingly, the Austrian Erste Bank was also founded over two centuries ago as the first savings bank in that country.

“The vision of the Novi Sad Savings Bank — to contribute to the prosperity of society through the financial independence of citizens—has lived on throughout all these years. With that vision, Erste Bank operates today, dedicated to providing modern financial services and supporting the community. We are proud of our 160-year history, heritage, and role in the development of the entire banking sector in Serbia. Accordingly, we will continue to help our clients take care of their financial health, realize business ideas, and achieve personal goals,” said Jasna Terzić, President of the Executive Board of Erste Bank.

Today’s Erste Bank in Serbia has continued the tradition of democratizing banking, supporting the population, local communities, and small and medium-sized enterprises through innovative financial products and personalized services, as well as nurturing long-term relationships with them. Additionally, in line with its strategic commitment to socially responsible business, Erste Bank has been working for years on various projects and initiatives aimed at financial literacy, supporting education, culture, sports, and ecology, to contribute to the development and improvement of the quality of life in the entire community.

Serving nearly half a million clients in its 88 branches, Erste Bank is now one of the key players in Serbia’s financial sector, contributing to strengthening the position of Erste Group as the leading banking group in Central and Eastern Europe.