CNB Council: HRK 380m to be paid into the state budget

Published: 13/3/2013

At its session today, the Croatian National Bank Council examined the latest monetary and economic indicators as well as a report on the banking system condition in the last quarter of 2012.

Furthermore, the CNB Council adopted a report on the last year's international reserve management, showing that the reserves totalled EUR 11.2bn in late December 2012, an increase of around EUR 41m from the end of the previous year. Net international reserves stood at EUR 10.2bn, up EUR 177m on end-2011.

In conditions of substantial volatility and uncertainty in global financial markets, the CNB was justified in giving particular attention to the safety and liquidity of investment. The CNB Council further concluded that, against the background of very low interest rates on deposits and unfavourable or even negative yields on other safest forms of investment, the central bank managed to obtain very good financial results.

Also adopted were reports on the Croatian National Bank's financial operation in 2012, showing net income of HRK 475.8m. According to the prescribed formula, HRK 380.6m will be transferred to the state budget and the remaining amount will be allocated to the general reserves of the central bank.