In 2010 3 Bank 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, especially women. Traditionally in Serbia, women are not owners of businesses or farms (share of women business-owners in Serbia is under 25% while the share of women holders of registered agricultural households in Serbia is only 8%). Therefore, women are not often the ones who will be business/agro loan beneficiaries in banks and MFIs in Serbia, as the laws oblige financial institutions to disburse loans exclusively to farm and business owners/directors. Loans for individuals enable 3 Bank to serve more women and to help them to transform their and lives of their children and other family members.
Micro Personal Loans
Women, elderly, rural and underserved clients are our main focus when it comes to these loans and the main advantage of 3 Bank is the fact that loans are disbursed efficiently, with minimum number of visits to the bank.
Second group of clients that 3 Bank started serving after introducing loans for private individuals are the elderly 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 3 Bank 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.