FINA: Over 328,000 citizens and 31,000 companies with frozen accounts in July

At the end of July 328,357 people in Croatia had their accounts frozen with HRK 40.26 billion in total outstanding debt, while the number of businesses with frozen accounts was 31,455, owing HRK 19.2 billion, the latest figures provided by the Financial Agency (FINA) show.

Although the number of private citizens with frozen accounts dropped by 431 or 0.1% from June, their debts increased by 0.8% to HRK 330 million. Compared with July 2015, their number rose by 7,738 or 2.4% and their overall debt increased by HRK 6.16 billion or 18%.

Compared with June, the number of companies with frozen accounts fell by 1.8% and their debts decreased by HRK 10 million or 0.05%. Compared with July 2015, the number of companies with frozen accounts was 14,992, which was 32.3% fewer, and their debt decreased by HRK 7.91 billion or 29.2%.

FINA said it expected the number of such companies to continue to fall thanks to the impact of the laws on enforcement of financial assets, on financial operations and pre-bankruptcy settlement, as well as the fact that businesses that had failed to submit their annual financial statements for three years in a row were removed from the register of companies.

A total of 362 companies were removed from the register in the year to July 2016, and over 49,000 have been removed since 2012 when the law to that effect came into force.

The data for July 2016 show that most of the companies have had their accounts frozen for more than 360 days, namely 22,244 companies or 70.7%. They owed HRK 15.2 billion, or 79.1% of the total debt.

(EUR 1 = HRK 7.47)

Last update: Mon, 05/09/2016 - 14:05

More from Croatia

Croatia to decide on its own whether to join sanctions against Dodik

Croatia will decide on its own whether to join in the US sanctions against Republika Srpska President Milorad Dodik...

Erjavec insists on possible incidents if Croatia rejects border arbitration ruling

Slovenia-Croatia relations might be additionally strained over a ruling to be made by an international border...

EC recommends Croatia's gradual integration into Schengen Information System

The European Commission on Wednesday made a recommendation to the Council of the European Union to gradually...

Plenkovic: It's important for Croatia to postion itself in changed global circumstances

It is important how Croatia will position itself in 2017 against a background of the changed global circumstances,...

Islamic community Majlis in Rijeka marks 50th anniversary

The Majlis of the Islamic community in Rijeka earlier this month marked the 50th anniversary of its establishment...