The paper analyzes the determinants of bank profitability in Serbia over the period from 2019 to 2025, with the aim of identifying key internal determinants influencing bank performance, expressed through return on assets. The research is based on data retrieved from banks’ financial statements, from which relevant indicators are constructed, including profitability (ROA), capitalization, liquidity, asset structure, and operational efficiency. By applying panel regression models, the study examines the impact of these determinants on the profitability of the banks operating in Serbia. The results of this study indicate a negative significant influence of cost efficiency on the considered banks profitability, while the effects of capitalization and asset structure show a negative but insignificant impact. The research contributes to a better understanding of bank performance under varying levels of economic uncertainty, including periods of crisis and recovery

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