HNB

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.

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.

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.

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.

HNB ordered to answer questions about CHF loan conversion

The Franak association of holders of loans denominated in the Swiss franc on Monday made public the ruling by Information Commissioner Anamarija Musa ordering the Croatian National Bank (HNB) to answer the association's questions regarding the conversion of CHF loans.

Household deleveraging continues for 11 months in row

The volume of retail banking decreased in May when the volume of lending to households fell to HRK 118.1 billion, down by 10.2 billion kuna or by 8% compared to May 2014, according to figures provided by the National Bank (HNB).

Bank lending down to HRK 267bn in May

The total volume of loans granted by the end of May 2016, according to the latest figures from the Croatian National Bank (HNB), was HRK 266.7 billion, marking the continuation of a downward trend that began in November 2012, analysts at Raiffeisenbank Austria (RBA) say.

Vujcic: GDP growth faster than expected, debt remains main risk

The Croatian National Bank (HNB) has revised upward its GDP growth projection for 2016 to 2.3% because of the faster-than-expected increases in domestic consumption and investments, but the high levels of public and foreign debt still pose the largest downside risk to the country, HNB Governor Boris Vujcic said on Thursday.

Croatia's Q1 FDI jumps 27.1% to EUR 503 mn

Foreign direct investment (FDI) in Croatia in the first three months of 2016 came to EUR 503 million, which was an increase of 107.4 million or 27.1% compared to the corresponding period in 2015, according to the preliminary figures released by the Croatian National Bank (HNB).

HNB revises upward Croatia's growth to 2.3% in 2016

The Croatian National Bank (HNB) revised upward the country's growth projection for 2016 to 2.3% from 1.8%, and it expects the growth to step up to 2.5% in 2017, according to a press release issued by the central bank after its Council held a meeting on Wednesday.

HNB releases HRK 234.4mn to banks through third structural repo operation

The Croatian National Bank (HNB) on Tuesday conducted the third of the four structural repo operations for this year, releasing a total of HRK 234.4 million to banks at a fixed repo rate of 1.40%, the central bank said.

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 will soon revise Croatia's growth projection upward

Croatian National Bank (HNB) Governor Boris Vujcic said on Thursday that the central bank would soon revise upward the country's growth projection.

HNB: Croatian economy continues to grow

The HNB Council discussed the latest economic and monetary indicators, adopted the annual report on the HNB's work in 2015, the annual report on the work of the Croatian Monetary Institute in 2015, and several decisions.

Lending lowered by 15 bn kuna in April

The volume of the total lending in late April came to HRK 266.2 billion, which was down by 14.9 billion kuna, or by 5.3% than in April 2015, according to the latest figures provided by the Croatian National Bank (HNB).

Croatia to issue Eurobond when political doubts are dispelled

According to a press release, a delegation of officials from the Finance Ministry and the Croatian National Bank (HNB) conducted successful meetings with investors in Germany and London lately.

Public debt totals EUR 38.7b at end of Feb

At the end of February 2016, Croatia's public debt totalled HRK 289.7 billion, HRK 1.5 billion less on the month but HRK 4.2 billion more on the year (+1.5%), the central bank (HNB) said on Wednesday.

HNB steps in to ease appreciatory pressure on kuna

RBA analysts said in their comment on Wednesday that by the end of Tuesday the market had stabilised at 7.495 kuna for one euro after opening in the morning with an exchange rate of 7.485 kuna for one euro.

HNB: Non-performing loans ratio falls to 16.12% in March

Thus, the NPL rate was reduced by 1.02 percentage points compared to the end of March 2015, and by 0.53 percentage points compared to the end of 2015.

Commercial banks in Croatia earn Q1 gross profit of HRK 1.5 bn

Commercial banks in Croatia generated a total pre-tax profit of HRK 1.51 billion in the first quarter of 2016, according to preliminary unaudited data for 28 banks released by the Croatian National Bank (HNB) on Tuesday.

Amendments on central bank law to be discussed after ECB position

A bill of amendments to the Croatian National Bank Act (HNB) which, among other things, would enable the State Audit Office to audit the work of the central bank, will be discussed only when the European Investment Bank (ECB) takes a position on it, 

HNB releases HRK 146.5 mln at 2nd structural repo auction

The total amount of offers submitted for this second auction amounted to HRK 146.5 million which means that the HNB has accepted all the bids submitted.

Cenbank governor: Croatia should join Banking Union when completed

"It is important that we realise that reforms must be implemented and that they have to be above any political interests," Vujcic concluded.

Bank deposits increase to HRK 250 billion

Total bank deposits in Croatia at the end of March this year amounted to HRK 250.3 billion, 8 billion or 3.3% more than in March 2015, according to the latest figures from the Croatian National Bank (HNB).

Central bank pays HRK 483 mln into state budget

"In 2015, the central bank's net profit amounted to HRK 2.03 billion. In line with legal regulations, HRK 483 million will go to the state budget and the rest ... will go to the bank's reserves." the central bank said.

Croatia's gross foreign debt drops for 2nd consecutive month

Croatia's gross foreign debt was EUR 45.4 billion at the end of January 2016, down for the second consecutive month year on year, according to the latest figures released by the Croatian National Bank (HNB).

Cen bank governor says structural reforms necessary to boost growth

Vujcic said this at the 19th edition of the expert conference called "Croatian Money Market", held in the northern Adriatic resort of Opatija on Thursday.

MPs put forward changes to law regulating central bank

The proposed amendments, signed by MPs from nine parties and seven minority and independent deputies in parliament, envisages that the position of governor and vice-governors can be held for a maximum of two consecutive terms.

Central bank governor says GDP growing on healthy foundations

He voiced optimism, underlining however, that reforms were necessary in all sectors -- the public administration, judiciary, the health sector, education.

February sees continued annual drop in corporate lending

The first two months of 2016 saw a monthly rise in corporate lending, but annually the trend of decline which began in May 2012 continued, the latest Croatian National Bank (HNB) figures show.

FDI in Croatia in 2015 plunge to EUR 128mn

Total foreign direct investments (FDI) in Croatia in 2015 amounted to EUR 128 million, preliminary figures released by the Croatian National Bank (HNB) show.

HNB: Economic recovery continues

The Croatian economy has continued to recover this year, the Croatian National Bank (HNB) said in a statement from an HNB Council meeting on Wednesday.

Bank deposits up 3.6% to HRK 253.9 billion

Total bank deposits in Croatia at the end of February totalled HRK 253.9 billion, 0.7% less than in the previous month, but 3.6% more than in February 2015, show the latest data from the Croatian National Bank (HNB).

Lending in Feb down EUR 2.1b year on year

According to the Croatian National Bank, lending at the end of February 2016 totalled HRK 270.1 billion, a decrease of HRK 16 billion on the year (-5.6%) due to household and corporate deleveraging and a decrease of the government's credit debt.

HNB governor: Indebtedness and lack of collateral limiting growth in loans

The central bank governor noted that analyses show that economic recovery of the growth of GDP is followed by growing loans.

Croatia's gross foreign debt at 103.7% of GDP

Croatia's gross foreign debt at the end of December 2015 was EUR 45.5 billion or 103.7% of GDP, which was 4.7 percentage points less than the year before, according to the latest figures from the Croatian National Bank (HNB).

Central bank governor says situation with bad loans improving

Vujcic announced that he would soon conduct talks with European Commission officials with the aim of obtaining final confirmation of the HNB's interpretation.

Visiting Greek governor: Financial sector faced with many challenges

"Despite the progress made in the past few years, with Banking Union as the flagship of the reform effort, more progress is needed as Economic and Monetary Union (EMU) remains incomplete.

Parliament again delays vote on central bank's 2014 report

The Committee concluded last week that parliament could and should discuss and vote on the report as on reports by other independent bodies such as the State Prosecutor's Office.

PM: Possible changes to HNB Act

Prime Minister Tihomir Oresovic said on Tuesday that the Croatian National Bank (HNB) should remain autonomous in running monetary policy, but raised the possibility of amending the HNB Act.

PM advocates independent monetary policy

"My position is clear: monetary policy has to be independent, which is the case in all European countries," Oreskovic told Bloomberg.

Central bank says is economical, successful, with strict audit

The Croatian National Bank (HNB) said on Monday that it ranked among Europe's economical central banks which at the same time operated successfully, although this was not its main task, and that its work was subject to a strict audit.

HDZ and Bridge lawmakers trade barbs

"In my opinion, this is irresponsible and also reveals lack of knowledge of how some things function, this is insistence on some private score-settling," Suker told reporters.

HNB governor: 2016 budget within expected limits

Croatian National Bank (HNB) Governor Boris Vujcic said on Friday that the proposed 2016 budget was within expected limits and that the HNB too estimated that this year GDP would grow at a rate of about two percent.

Bridge, opposition walk out of parliament over central bank report

"We will ask the Constitution Committee to give us their opinion," Reiner said. Kovacic asked him who requested the committee's opinion, to which Reiner replied, "I, that is, I will request the opinion."

Deposits rise 5 pct to EUR 33.6b

Deposits in January 2016 increased five percent on the year to HRK 255.6 billion, while decreasing 0.5% month on month, according to the latest Croatian National Bank figures.

HDZ MP accuses central bank of destroying small banks

During a parliamentary discussion on the HNB report for the first half of 2015, Maric said that any negative mention of the HNB's performance was seen as if it contained "elements of a coup".

MPs criticise central bank

Parliament on Thursday discussed the Croatian National Bank's (HNB) work in 2014, with MPs criticising it for advocating the protection of banks and neglecting the economy and citizens, and questioning the stability of the national currency.

Fall in lending activity continues in January

Compared with January 2015, kuna loans increased by 3.5 billion or 4.6 percent, continuing their upward trend since October 2014. However, compared with end-December 2015, kuna loans accounted for HRK 570.5 million, which was a decrease of 0.7 percent.

HNB governor: Croatia may join ERM II by 2020 rather than EMU

On Tuesday, Prime Minister Oreskovic said during his visit to Berlin that he had talked with Governor Vujcic about launching the process of introducing the euro in two years and for the process to be completed in four years.

Croatia's public debt reaches 85.5% of GDP, foreign debt 107.7% of GDP

Croatia's public debt reached HRK 285.3 billion at the end of November 2015, representing 85.5% of the estimated GDP for 2015, while gross foreign debt totalled EUR 47.2 billion or 107.7% of GDP, the latest figures provided by the Croatian National Bank (HNB) show.

Croatian banking sector registers gross loss in 2015

This has been the first time for the banking system to finish a year in the red since 1998, which was remembered for a banking crisis when lenders had the aggregate gross loss of HRK 2.7 billion. 

IMF delegation to arrive in Zagreb Wednesday for 5-day visit

During the visit, scheduled to start on Wednesday, February 17, the IMF delegation will hold talks with representatives of the central bank and the Finance Ministry, as well as some other ministries and institutions.

Deposits increase by EUR 1.7b

In December 2015, deposits decreased 0.4 percent month on month but increased 5.2%  year on year to HRK 257 billion, the Croatian National Bank said on Wednesday.

Survey shows financial literacy in Croatia average

Financial literacy in Croatia is average, but a bigger problem than that is the discrepancy between financial literacy and financial behaviour, shows a survey published on Thursday.

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. 

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 official says HNB governor supports party's reforms

According to the statement, Vujcic stressed that structural reforms were necessary and that he was happy that Bridge advocated reforms, 

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.

Cenbank orders removal of disputed annex from conversion contracts

Eight commercial banks and four individuals had requested the Constitutional Court to assess the constitutionality of the two laws regulating the conversion.

HNB governor: Political deadlock would risk recovery

Any delay risks discouraging investors who've already reacted to the ballot by pushing up Croatian bond yields and selling the kuna, he said.

Croatia's gross foreign debt exceeds EUR 49bn

Croatia's gross foreign debt reached 49.2 billion euros at the end of July 2015, or 113.8% of the estimated GDP, according to the latest figures from the Croatian National Bank (HNB).

Croatia's public debt reaches 87% of GDP in July

General government debt in July 2015, compared with June 2015, increased by HRK 6.1 billion or 2.2%, while compared with July 2014 it went up by HRK 18.2 billion or 6.7%.

HNB cuts interest rates

The Croatian National Bank (HNB) Council has decided to cut the central bank's Lombard rates from 5% to 2.5% and its discount rates from 7% to 3% annually.

Bank lending down 0.6% y-o-y

The total amount of bank lending in Croatia at the end of August was HRK 278.5 billion, which was a decrease both on the monthly and the annual level, ...

Cenbank governor revises upward forecast for Croatia's growth

The HNB also revised upward the inital growth forecast for 2016 from 0.9% to 1.5%.

Podravska Banka introduces time deposits for German clients

Podravska Banka will perform said transactions in cooperation with Saving Global GmbH, which is a market leader in such transactions on the German market, ...