At its session today, the Council of the Croatian National Bank reviewed the latest economic and monetary developments, as well as the financial stability analysis, and adopted several decisions within its competence.

Amendments to the Decision on payments and collections in foreign means of payment in the country now allow domestic investment funds to issue and redeem foreign exchange holdings in transactions with residents, which is to put Croatian and foreign investment funds in the Republic of Croatia on an equal footing in the market and have an impact on the reduction of foreign currency conversion costs incurred in the purchase and sale of holdings. These amendments also enable Croatian insurance companies to pay damages in foreign exchange to resident natural persons having foreign residence permits and allow the collection of premiums and payment of damages in foreign exchange between Croatian insurance companies as insurance providers and their subcontractors under the same insurance contract. Furthermore, as regards re-export transactions, (non-cash) payments in foreign exchange for trade in goods are now allowed between residents and non-residents even if the goods do not cross the state border of the Republic of Croatia. The restriction on payments for goods in foreign exchange cash and cheques denominated in foreign currency remains in force.

Also at its session today, the CNB Council approved the appointment of Ivo Bilić as Chairman and of Emir Deldago as Member of the Management Board of KentBank d.d. Zagreb, as well as the appointment of Boris Zadro as Chairman and Pero Bolotin and Nataša Jakić Felić as Members of the Management Board of Kreditna banka Zagreb d.d. The Council also approved the extension of the mandate of Zvonko Agičić as Chairman and of Dubravka Filipčić as Member of the Management Board of Tesla štedna banka d.d. Zagreb.

OTP banka Hrvatska d.d. Zadar was granted approval for the acquisition of OTP Faktoring d.o.o. Zadar.