Croatian National Bank

HNB says will continue with its stable kuna exchange rate policy

The Croatian National Bank (HNB) will continue with its policy of kuna exchange rate stability, the HNB told Hina when asked to comment on recommendations by President Kolinda Grabar-Kitarovic's council for economic affairs regarding monetary policy.

Croatia's gross foreign debt cut by 9.4% to 42.4 bln euro

The latest Croatian National Bank (HNB) data show that the gross foreign debt at the end of September 2016 amounted to 42.4 billion euro which was 4.4 billion euro less or a drop of 9.4% on the year, with the Croatian Chamber of Commerce (HGK) expecting that trend to continue.

HNB buys 438.3mn euros on foreign exchange market

The Croatian National Bank (HNB) intervened in the foreign exchange market on Wednesday by purchasing EUR 438.3 million euros at an average exchange rate of 7.564733 kuna for one euro, thus injecting slightly over 3.3 billion kuna into the monetary system.

HNB governor: Era of low interest rates ending soon

Croatian National Bank (HNB) Governor Boris Vujcic has said that the ongoing period of low interest rates is nearing an end.

Croatia's central bank revises upward its forecast for 2016 growth to 2.8%

The Croatian National Bank (HNB) on Tuesday revised upward its estimate of Croatia's economic growth in 2016 to 2.8% from its earlier estimate of 2.3%, and also increased its forecast for 2017.

Croatia's gross international reserves EUR 12.9 bn in 2016 June-end

Croatia's gross international reserves stood at 12.9 billion euros at the end of H1 2016, which was 5-6% or 800 million euros less compared to the end of 2015, figures released by the Croatian National Bank (HNB) show.

Croatia's gross foreign debt in Aug down 9 straight months

Croatia's total gross foreign debt at the end of August this year amounted to 43.7 billion euros, which is 4.1 billion or 8.6% less than at the end of August last year, the Croatian National Bank (HNB) reported on Friday.

HNB releases HRK 47.5M to banks through 4th structural repo operation

The Croatian National Bank (HNB) on Tuesday conducted the fourth and last structural repo operation for this year, releasing a total of HRK 47.5 million to banks at a fixed repo rate of 1.40%, the central bank said.

Economic activity in Q3 intensifies, central bank says

Monthly indicators point to intensified economic activity in the third quarter of the year, mainly owing to favourable tourism results, the Croatian National Bank said on Thursday after a session of its Council.

Croatian National Bank to continue expansive monetary policy in 2017

Croatian National Bank (HNB) Governor Boris Vujcic said on Wednesday that the central bank would continue its expansive monetary policy next year, warning that Croatia should become more structurally effective and competitive and work on strengthening resilience to changes to financial circumstances in the world.

ECB urges HNB audit be done in non-political, independent way

The European Central Bank (ECB) holds that the audit of the Croatian National Bank (HNB) by the State Audit Office should be conducted "on a non-political, independent and purely professional basis."

SDP MP sees Bridge's changes to HNB law as settling score with governor

Although the Opposition in the Croatian parliament on Wednesday agreed in principle with the Bridge-sponsored amendments to the law on the Croatian National Bank (HNB), a Social Democratic Party (SDP) lawmaker, Tomislav Saucha, said that the amendments were intended to "square accounts with the HNB Governor" Boris Vujcic.

HNB: Charges against RBA, Sberbank over irregularities in loan conversion

The Croatian National Bank (HNB) on Wednesday presented the Franak association of debtors with loans pegged to the Swiss franc with a letter providing information about which banks had violated the law on converting the loans into euro loans.

2015 general government deficit revised upward to 3.3% of GDP

Croatia's consolidated general government deficit in 2015 was HRK 11.03 billion, or 3.3% of GDP, the National Bureau of Statistics (DZS) said on Friday.

Franak: HNB must answer all questions relating to CHF loan conversion

The Croatian National Bank (HNB) must provide the Franak association of holders of loans denominated in Swiss francs with information as to which banks violated the law on the conversion of CHF loans as the High Administrative Court has rejected the HNB's application to declare a decision by the Information Commission null and void.

Central bank forecasts real GDP growth to exceed 2.3 pct this year

Croatian National Bank (HNB) analysts predict that real GDP will exceed 2.3% this year, which they predicted in July, primarily owing to stronger economic growth in the second quarter and better trends at the beginning of the third, thanks in great part to a good tourism season.

Croatian adult financial literacy low - survey

Croatia ranks 27th out of 30 countries covered by an international survey on adult financial literacy, which was conducted by the International Gateway for Financial Education (INFE) and the Organisation for Economic Cooperation and Development (OECD).

Maric to lead Croatian delegation to WB and IMF annual meeting

Finance Minister Zdravko Maric will lead a Croatian delegation to the annual meeting of the World Bank (WB) and the International Monetary Fund (IMF) taking place in Washington on October 6-9, the Ministry of Finance announced on Thursday.

Croatia's gross foreign debt falls to EUR 43.4 bn in June

Croatia's total gross foreign debt at the end of June this year amounted to 43.4 billion euro, which is 5.4 billion euro or 11% less than at the end of June last year, the Croatian National Bank (HNB) reported on Tuesday.

HNB: Public debt at end June HRK 285.7 bln

The general government debt at the end of June 2016 was HRK 285.7 billion, 1.7 billion or 0.6% less than at the end of June 2015 and HRK 3.9 billion or 1.3% less than at the end of 2015, show the latest figures provided by the Croatian National Bank (HNB).

Balance of payments current account surplus reaches EUR 152m

There was a EUR 152 million surplus on the balance of payments current account in the second quarter of 2016, EUR 116 million more than in Q2 2015, which was the first time the current account recorded a surplus in Q2, according to Croatian National Bank data.

8.8 million credit and debit cards in circulation in Croatia in June

At the end of June 2016 there were 8.8 million credit and debit cards in circulation in Croatia, an increase of 1.2% over June 2015, and 77% accounted for debit cards, an international conference on technologies, standards and smart card applications in financial, trade and other sectors said in Opatija earlier this week.

16.12 pct of loans at end of Q1 non-performing

Of the HRK 267 billion in bank loans at the end of the first quarter of 2016, 16.12% were non-performing (HRK 43b), according to the latest Croatian National Bank figures.

Lending in June down 4.8 pct y-o-y

At the end of June 2016, loans in Croatia totalled HRK 267.7 billion, down 4.8% on the year, continuing a downward trend in lending which began in November 2012, Raiffeisenbank Austria analysts said on Monday, citing Croatian National Bank data.

Bank deposits reach HRK 255b

Bank deposits at the end of June 2016 totalled HRK 255.4 billion, up 1.4% on the month, according to Croatian National Bank figures, Raiffeisenbank Austria said on Friday.

Brexit not expected to have major impact on Croatian economy

Brexit will have political and economic consequences, but the British economy will not collapse or suffer a steep decline, the Croatian Chamber of Commerce (HGK) said.

HNB Council: Favourable economic trends continue

The Croatian National Bank (HNB) Council said on Wednesday that favourable economic trends continued at the end of 2015 after economic activity strongly intensified in the third quarter of that year.

Economists for reducing budget outlays by EUR 400-500 mln in 2016

Lipa association representative Davor Huic said the first goal should be to reduce the expenditures side of the budget by HRK 3-4 billion.

Croatian cenbank governor hints at new guarantee scheme for SMEs

Croatian National Bank (HNB) Governor Boris Vujcic has announced a meeting next month with the new government, commercial banks and European financial institutions in a bid to create a new guarantee scheme aimed at encouraging lending to small and medium enterprises.

Croatia's public debt reaches 85.9% of GDP in Sept

Croatia's public debt came to HRK 286 billion at the end of September, making up 85.9% of the country's Gross Domestic Product, according to the latest figures released by the central bank (HNB).

Croatia's gross foreign debt reaches 107.6 pct of GDP

Compared with the end of the third quarter of 2014, gross foreign debt increased by EUR 480 million or 1 per cent, while in comparison with the end of 2014 it rose by EUR 327 million or 0.7 per cent.

Total bank deposits increase by close to HRK 14 bln

The latest figures from the Croatian National Bank (HNB) show that total bank deposits in November 2015 amounted to HRK 258 billion, close to 14 billion kuna or 6% more than in November 2014.

Croatia's economy expected to rise by more than 1 pct in 2016

In 2016 Croatia's economic growth will pick up to 1.8% on the back of rising exports of goods and services as well as on the back of a continued rise in personal consumption and investments,

Cen Bank governor doesn't expect pressure from new gov't

Vujcic reiterated that the HNB was an independent institution under the Croatian laws and must not receive instructions from outside.

Govt. influence on monetary policy unacceptable, says central bank governor

"I don't know that something like that exists in other countries," he said, adding that Bosnia and Herzegovina has a currency committee which irreversibly fixes the exchange rate but that it would be a bad solution.

Central bank upgrades GDP growth forecast for 2016 to 1.8 pct

The HNB said there was headway on the labour market this year and that in 2016 it expected employment growth to intensify mildly and unemployment to continue decreasing.

Bank deposits total HRK 257 billion

"The strong annual growth of 3.4% is the result of an increase in both kuna and foreign currency deposits," the RBA analysts said. 

Proportion of bad loans at end-September at 17.05%

Figures on the quality of loans broken down by currency showed an above average risk of collecting payments for loans denominated in the Swiss franc and loans denominated in the kuna without a foreign currency clause.

Gross foreign debt grows 4.1% on year

Compared to July, the gross foreign debt was 1.5 billion euros down, but compared to August 2014, it went up by 1.9 billion euros. 

Croatia's public debt up 6% y-o-y

General government debt, which includes the debt of central government, social security funds and local government, decreased by HRK 1.8 billion or 0.6 per cent from July,

MOST, SDP say gov't, central bank should intensify cooperation

Responding to criticism that he was proposing radical solutions in the monetary policy, Lovrinovic denied that he advocated a devaluation of the national currency.

Government proposes solution for citizens with loans from Raiffeisen Styria

Justice Minister Orsat Miljenic said that the citizens had been naive and had entered into arrangements that turned out to be very bad for them