Banks report strong profit growth

Published: 12/3/2008

At its session today, the Croatian National Bank Council reviewed a report on economic and monetary developments in the previous quarter and a report on the banking system condition in the last quarter of 2007.
According to all available data, the banking system has remained stable, currently comprising 33 banks and 5 housing savings banks. Bank assets rose by 13% last year, loans and deposits both grew by 15%, while bank profit increased by over 21%.
The CNB Council approved the international reserves management report for 2007, which shows that international reserves, standing at EUR 9.3bn at the end of 2007, increased by EUR 582m relative to the last day of the previous year. International reserves investments have generated EUR 364m (an approximate HRK 2.7bn) of total net income.
The CNB Council endorsed the proposals of the supervisory boards of three banks for new management board appointments: Mirko Goreta is appointed as Member of the Management Board of Jadranska banka d.d. Šibenik, Duško Miculinić is reappointed as Chairman and Željka Pavić and Anto Pekić as Members of the Management Board of Primorska banka d.d. Rijeka, while Angelina Horvat is to remain as Chairman and Elvis Mališ as Member of the Management Board of Slatinska banka d.d. Slatina.
The CNB Council also gave approval for kuna and lipa coins with the mint year 2008 to be released into circulation on 20 March.