This has been a very good year for Croatian Postal Bank (HPB) and it hopes to increase its market share next year, the bank's executives told a press conference in Zagreb on Monday.
"This has been a very, very good year," HPB Management Board Chairman Tomislav Vuic said.
HPB has carried out a successful recapitalisation and increased its capital to HRK 1.7 billion by converting hybrid instruments in the amount of HRK 252 million in June and issuing new shares worth a total of HRK 550 million in September. The bank has reached a capital adequacy rate of 16.5 per cent, which is 2.5 percentage points higher than the required rate of 14 per cent.
This year was also marked by reorganisation and the bank achieved the best financial result in its history, generating a record net profit in the first nine months of HRK 107 million.
HPB has about 640,000 clients and their number is growing. This year has seen more than 30,000 private citizens and nearly 1,200 businesses open their accounts with HPB.
Although the market was stagnating, HPB recorded a 7.4 per cent increase in household loans and increased its market share from 3.4 per cent to 3.6 per cent. At the end of September, household loans reached about HRK 4.4 billion and household saving deposits amounted to HRK 8.3 billion, up 2.7 per cent.
The bank plans to improve service quality, increase the number of clients and focus on small and medium enterprises.