At its session today, the Council of the Croatian National Bank examined the latest monetary and economic indicators as well as banking system condition based on unaudited reports of banks on their business performance in the previous year and available data for the first months of this year.

Furthermore, the CNB Council adopted the report on the management of last year's international reserves that reached EUR 11.2bn towards the end of December, an increase of EUR 534.7m or 5% from the end of the previous year. Net international reserves (excluding foreign exchange reserve requirements, special drawing rights with the IMF, and Ministry of Finance funds) rose by EUR 732.5m or 7.9% last year, standing at a little over EUR 10bn at the end of 2011.

The CNB Council also adopted the report on financial operation of the central bank in the previous year, with the surplus of revenues over expenditures standing at HRK 2.6bn. However, with the exchange rate effects excluded, the profit stood at HRK 613m. As provided by law, HRK 480m will be paid into the state budget and the remaining amount will be allocated to the general reserves of the CNB.

The CNB Council approved C.I.M. Banque with a registered office in Geneva to increase its equity holding to over 30% of the initial capital of Primorska banka d.d. Rijeka.

The CNB Council also approved the decision of the Supervisory Board of Partner banka d.d., Zagreb to appoint Ivan Ćurković as the Chairman of that bank's Management Board and the decision of the Supervisory Board of Tesla štedna banka d.d., Zagreb on further appointment of Zvonko Agičić as Chairmen of that bank's Management Board and Dubravka Filipčić as Member of the Management Board.