CNB Council: Approval granted to new shareholders of Karlovačka banka

Published: 19/2/2014

At its today's meeting, the Croatian National Bank Council gave approval to Ivan Žabčić and Marko Vuković for the acquisition of equity shares in Karlovačka banka d.d., Karlovac, individually exceeding 30% and jointly 50%.

The General Meeting of Karlovačka banka adopted a decision on 10 February 2014 to cover an operating loss by reducing the equity capital from HRK 116.9m to HRK 24.2m and infusing additional capital of HRK 72.7m. The whole amount was paid in by the acquirers - co-owners of HS Produkt d.o.o., Karlovac - who thus became the majority owners of the bank with a 75% share in the equity capital and associated voting rights.

According to a basic strategy submitted to the central bank, the new majority owners of Karlovačka banka intend to stabilise the bank and lay the grounds for its more successful operation by capital injections, attracting new clients, making thorough changes in management and reorganising the staff as well as by enhancing risk management quality, collecting and restructuring non-performing placements and developing new products for the economy and households.