HBOR records HRK 205 mln in profits in 2015

The Croatian Bank for Reconstruction and Development (HBOR) last year generated HRK 205.2 million in profits, or nearly 37 million more than in 2014.

The increased profits have resulted in lower operating costs, expenses lower than interest rates, net income higher than fees and net income generated through currency exchange, HBOR said in a statement.

In 2015, HBOR total income amounted to HRK 917.1 million, expenses to HRK 711.9 million and profit to HRK 205.2 million. In accordance with the law on HBOR, the overall profit in 2015 will be allocated to reserves.

HBOR is Croatia's development and export bank with the main task of promoting the development of the Croatian economy.

By providing loans, insuring export transactions against political and commercial risks, issuing guarantees and providing business advice, HBOR builds bridges between entrepreneurial ideas and their accomplishment with the objective of enhancing the competitiveness of the Croatian economy.

Last update: Tue, 12/04/2016 - 18:53
Author: 

More from Croatia

Croatia's Helsinki Committee warns of deteriorating human rights

The Croatian Helsinki Committee on Human Rights (HHO) on Friday presented awards for outstanding contribution to the...

PM: Croatia will continue talks with EC following request to amend INA privatisation law

Prime Minister Andrej Plenkovic said on Friday that Croatia would continue talks with the European Commission...

Exhibition on Roma genocide in WWII Croatia opens in Zagreb

An exhibition on the genocide of Roma in Croatia during World War II opened at the Conference Centre of the Roma...

US official warns of risk of terrorists arriving in S-E Europe

US Deputy Assistant Secretary of Defense Michael Carpenter said in Croatia on Friday that the risk of terrorists...

Magnitude 4.6 earthquake rocks Split

An earthquake measuring 4.6 on the Richter scale rattled the southern coastal city of Split at about 2 p.m. Friday...