In 2010 3Bank has made a decision to include private individuals as one of its target groups. This important strategic move enabled the bank to reach more underserved clients in rural areas as well as those with low income. This change brought significant results, as the Bank provided access to loans to a large number of citizens who were underbanked before, or whose access to financial services was very difficult. Over 40% of Banks clients got their loan in 3Bank for the first time.
Elderly clients that 3Bank started serving after introducing loans for private individuals are mostly situated in the rural areas. Banks in Serbia are focused mainly on the urban areas and the middle-class population, while they are very rarely present in remote rural Serbian villages. And what is typical of these areas are households where several generations cohabitate, in most cases having just one or two regular monthly incomes which in most cases – is pension. Pensioner loans are the only chance for these non-commercial rural households to acquire additional funding for any life improving activities – children’s education, health care services or improvement of housing. Sometimes, these loans are used to start a small agro start-up production in order to provide additional source of income. Loans for individuals enable 3Bank to serve more rural households that rely on pensions as their main source of income and to help them to transform their and lives of their household members.
In September 2021, the bank introduced new loan product, intended for a completely new financially excluded client group. It includes 0.5 million workers under temporary employment contracts, as well as citizens with regular, official income on various bases. Until this product, these clients were invisible for the banks, and now they can get a loan in situations when they need it.