Of all loans in Croatia in 2015, 16.56 percent were non-performing loans, totalling HRK 45.6 billion, the central bank said on Wednesday.

For the first time since mid-2014, the share of non-performing loans dropped below 17%. At the end of June 2014, their share was 16.59%. It was highest at the end of June 2015, reaching 17.34%.

Over 2015, retail and corporate lending continued to decrease. After increasing in Q1 2015 due to a strong appreciation of the Swiss franc in January, the years-long deleveraging continued in the second half of the year, accelerating with the conversion of loans denominated in Swiss francs.

At the end of 2015, loans totalled HRK 275.4 billion, nominally down 1.6% from the end of 2014 and 1.4% from the end of September 2015. At the end of last year, retail lending totalled HRK 120.4 billion, nominally down 1.6% on the annual and 1.3% on the quarterly level, while corporate lending totalled HRK 101 billion.

Non-performing loans accounted for 12.15% of retail lending (HRK 14.6 billion) and 29.93% of corporate lending (HRK 30.2 billion).

Consumers are mostly indebted through housing loans, which totalled HRK 55 billion at the end of 2015, of which HRK 5.4 billion referred to non-performing loans.

Of all loans denominated in Swiss francs (HRK 19.98 billion), 21.62% were non-performing loans (HRK 4.3 billion). The conversion of Swiss franc loans resulted in a decrease in such loans at the end of 2015, nominally by 15.4% on the quarterly level.

Corporate loans denominated in Swiss francs totalled HRK 1.2 billion at the end of last year and 72.65% were at risk of being non-non-performing loans (HRK 874.9 million). Retail lending in Swiss francs totalled HRK 18.5 billion and 18.21% were non performing loans (HRK 3.4 billion).

As for lending in the national currency (HRK 79.5 billion), nearly HRK 14 billion were non-performing loans.

A majority of loans in 2015 was denominated in euros, totalling HRK 172.89 billion, of which 15.27% were non-performing loans (HRK 26.4 billion).


(EUR 1 = HRK 7.6)

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