HRK

State-owned HPB bank generates record high profit

The Croatian Postal Bank (HPB) wrapped up H1 2016 with the highest semi-annual net profit in the bank's history, amounting to HRK 1.3 million, with a strong growth of market shares in all segments of its business transactions, the HPB said in a press release Friday.

Goods exports in Q1 up 3.9 pct, imports 4 pct

Croatia's exports of goods in the first quarter of 2016 went up 3.9 percent on the year, reaching HRK 20.5 billion, while imports went up 4% to HRK 34.1 billion, the national statistical office said on Wednesday.

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).

Profit per employee highest in state-owned businesses

A total of 106,569 businesses were active in 2015, and of them 104,635 were privately owned, 850 were state-owned, 592 had a mixed ownership structure and 492 were owned by cooperatives.

Janaf recommends dividend of HRK 132.15 per share

The recommendation is based on a government decision adopted on May 12, defining the amount, method and deadline for payments by companies of strategic interest.

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.

Croatia's average net monthly salary for March up to HRK 5,722

The average net monthly salary in Croatia paid for March was HRK 5,722, which was an increase of 1.2% in nominal terms and of 0.5% in real terms in comparison with February, according to data from the National Bureau of Statistics (DZS).

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.

Croatian forest management company posts profit of EUR24.8M

The state-run forest management company "Hrvatske Sume" posted a net profit of HRK 186.4 million in 2015, when its pre-tax profit totalled HRK 235.2 million.

HRK 867 mln from EU funds available to SMEs in Croatia

The Minister for SMEs, Darko Horvat, said that the ministry had simplified the procedure to make it easier for SMEs to access the funds.

Consulting firm says Croatian businesses under-perform in operational excellence

The 26-point questionnaire.was sent to executives in 71 companies, 44% of which are headquartered in Zagreb.

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.

Nearly 5,000 new cars sold in April

The most popular models were the Volkswagen Golf, with 776 vehicles sold in the four months of 2016, followed by the Skoda Octavia (677), Opel Astra (642), Ford Focus (621) and Suzuki Vitara (490).

Motorway toll revenues up 6.5% to HRK 2.4bn

Motorway operators in Croatia in 2015 earned HRK 2.4 billion from toll collection without VAT, which was 6.5% more than in 2014, according to figures provided by the Croatian Association of Toll Motorways Concessionaires (HUKA).

INA Group posts HRK 66 mn in loss

In the first quarter of 2016 INA Group incurred a loss in the amount of HRK 66 million, while in the same period of 2015 it operated at a profit of HRK 50 million, shows a financial report the company released on Friday.

Koncar Group earns HRK 29.4 mln in net profit

In the first quarter of 2016, the Koncar Group earned a net profit in the amount of HRK 29.4 million, of which HRK 5.6 belongs to minority interests and HRK 23.8 million to majority interests, the electrical, transport and energy company reported on Friday.

Djuro Djakovic Group posts net loss of HRK 11.5 mn

The value of the contracts signed as of March 2016 was HRK 764 million, which was an increase of 207% compared with the first quarter of 2015. The group said it expected to fulfil its plans for 2016.

Culture Ministry says criticisms over Edit publishing company unfounded

"Funds for the normal functioning of Edit should be ensured from the state budget, through the Office for Ethnic Minorities, which is in charge of funding for work programmes of ethnic minorities," the Culture Ministry said in a reply to a query from Hina.

Croatian enterprises see their 2015 profits double to HRK 17bn

The report is based on data from the FINA Register of Annual Financial Statements covering 106,569 enterprises subject to profit tax, excluding banks, insurance companies and other financial institutions.

Petrokemija revenues drop 24 pct, losses more than halved

The Kutina-based artificial fertiliser manufacturer Petrokemija wrapped up the first quarter of 2016 at a loss of HRK 6.6 million (HRK 15.9 million in Q1 2015), while revenues dropped 23.6% to HRK 534.4 million, according to a financial report released on Friday.

HPB Group's net profits rise 5.5 pct

The Croatian Postal Bank (HPB) Group netted HRK 47.8 million in profits in the first quarter of 2016, up 5.5 percent on the year, the bank said on Friday.

ENT revenues in Q1 up 7 pct, net profit up more than 12 pct

Business results in Q1 2016 show that Ericsson Nikola Tesla (ENT) sales revenues grew by 7% on the year, reaching HRK 330.8 million, while net profits grew by 12.3% to HRK 28.2 million, the company said in a statement on Thursday. 

Atlantic Group earns HRK 45 mln in net profit in Q1

In the first three months of this year the food and distribution company Atlantic Grupa earned a net profit of HRK 45.2 million, 1.6% more than in the same period last year, shows an unaudited consolidated financial report released on Thursday.

HT reports 3.4% increase in revenue, net profit down

In the first quarter of this year Croatian Telecom (HT) generated a net profit after non-controlling interests of HRK 136 million, which was 15 million or 10.1% less than in the same period of 2015. 

JANAF generates net profit of HRK 53.8 mln in Q1

The JANAF oil pipeline company in Q1 generated a net profit of HRK 53.8 million, which is an increase of 85% compared to the same period last year, the company reported on Wednesday.

Osijek court issues first indictment against Dinamo executive Zdravko Mamic

The prosecution charges Zdravko Mamic of having siphoned from Dinamo at least HRK 52 million, and his brother Zoran of having defrauded the club of at least 38.1 million.

Govt. wants to structurally transform state through reforms in ten areas

The government is expected to submit a document with ten key reform proposals to the European Commission by the end of this month.

Croatia Airlines operates at profit in 2015

The national air carrier Croatia Airlines in 2015 earned a net profit in the amount of HRK 13.8 million, recording positive results for the third consecutive year, the company confirmed on Monday.

HRK 60.3mln spent on electricity vouchers for destitute Croatians

During the round table discussion, an international project called REACH - "Reduce Energy Use And Change Habits" -  which is being conducted in Sisak-Moslavina County, was presented.

Minister: Stricter criteria for official phones, credit cards to save HRK 50 mn annually

Public Administration Minister Dubravka Jurlina-Alibegovic hopes that the government's decision on stricter criteria for the limited use of official cars, mobile phones, credit cards, entertainment funds and official travel will save 40-50 million kuna annually.

Gov't moves to cut costs of use of official mobile phones, credit cards

The Croatian government on Wednesday unanimously decided on the conditions of the use of official cars, mobile phones, credit cards, entertainment funds and official travel.

Dairy farmers to receive HRK 27.6 million in aid

The government on Wednesday adopted a decision on the payment of HRK 27.6 million to milk producers which should be allocated no later than 30 June in an effort to relieve the difficult situation in the dairy sector.

Commission says president violated principles of preserving her credibility

The Commission said Grabar-Kitarovic had received HRK 1.17 million in compensation for the cost of her presidential campaign and had paid it to the HDZ, the party that nominated her as presidential candidate, so that it could later be used for humanitarian purposes.

Ducati Komponenti building new plant in Ludbreg

First Deputy Prime Minister Tomislav Karamarko visited the Ducati Komponenti company in Ludbreg, north Croatia on Monday for the beginning of construction of a HRK 42 million plant for the manufacture of low-voltage condensers and smart meter coils.

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.

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).

Two remaining suspects in money laundering case placed in custody

Two remaining suspects in the case of laundering HRK 630 million through fictitious gold sales were placed in investigative custody on Saturday after returning to the country from neighbouring Bosnia and Herzegovina.

HSU launches campaign against higher supplementary health insurance rate

All civil society associations, pensioners' associations, political parties, citizens and trade unions will be informed of the drive and asked to join in. Signatures will be signed across the country, in houses, institutions, squares, market places and other locations.

Petrov: participation fee in health sector won't go up

Deputy Prime Minister Bozo Petrov of the Bridge party said on Wednesday there would be no increase of the participation fee in the health sector, adding that the HRK 19 increase of the supplementary health insurance was necessary to stabilise the system.

Croatia's end-2015 public debt at 86.7% of GDP

Croatia's public debt in December 2015 was HRK 289.7 billion or 86.7% of GDP, stagnating monthly, but increasing annually by 1.9% or HRK 5.5 billion, analysts at Raiffeisenbank Austria (RBA) said in a report on Wednesday.

HRK 7 mln secured to assist with applications for LIFE programme

The programme is intended for public bodies, private companies and non-governmental organisations registered in the European Union and a call for applications has been announced for May 19.

Contract inked with Avenue Ulaganja for Kupari tourism investment project

A contract for the Kupari project was signed with the Avenue Ulaganja company on Thursday and that day marks the start of the implementation of that project. 

Croatian average take-home pay in Feb HRK 5,646

The average net salary in Croatian businesses for February was HRK 5,646, which is 1.7% more (HRK83) in nominal terms compared to the same month the year before, according to final figures released by the national statistical office on Friday.

Karamarko marks start of building works on 147 mln project

The European Union is financing 71% of the project which foresees the construction of a waste water purifier for the population of 25,000, a 35 km sewage network and supporting infrastructure

Croatia issues HRK 4 billion bond on domestic market

The Finance Ministry Thursday issued the second tranche of a bond worth 4 billion kuna on the domestic market on Thursday, thus increasing the balance of bonds issued last December.

Scientific community shocked by this year's budget

He said that Croatia did not have money for journals such as Science and Nature while at the same time "1.2 billion kuna is allocated annually to Documenta and other non-governmental organisations that slag off the government."

HEP to invest HRK 3.5 bn for reconstruction of power plants

The president of the Management Board of the national electricity provider HEP, Perica Jukic, on Friday said that the company would invest HRK 3.5 billion by 2020 in the reconstruction and revitalisation of hydro-electric power plants (HE) in the country.

Holcim Croatia ends year 2015 with HRK 3.6 mln profit

The company's revenue last year was 9% up from 2014, to HRK 310 million, even though the level of construction activity in Croatia has not increased significantly yet, Sisinacki said at a news conference in Pula.

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.

Government adopts draft 2016 budget

The government on Thursday unveiled the draft 2016 budget projecting revenues at HRK 114.9 billion, expenditures at HRK 122.4 billion and the deficit at HRK 7.5 billion or 2.2% of GDP.

Budget gap to be 2.2% of projected GDP

The Croatian government will present on Thursday its budget proposal for 2016, which envisages a deficit of HRK 7.4 billion or 2.2% of the projected GDP.

Unions won't back down from 6% pay rise claim

At the meeting with the government we will see how and in what period the pay rise will be negotiated, we are open to all options, said Plesa.

Ericsson Nikola Tesla signs EUR 7.5 mln deal with Moldovan client

Ericsson Nikola Tesla CEO Gordana Kovacevic said that she was looking forward to continuing the cooperation with the company's long-standing client.

Exports in 2015 soar 11 pct, imports up 7.7 pct

Croatia's commodities exports in 2015 reached 87.8 billion kuna or 11% more than in 2014, according to figures provided by the national statistical office (DZS) on Wednesday.

Deficit to be covered by borrowing, privatisation, says FinMin

Finance Minister Zdravko Maric said on Wednesday the government planned to borrow again, possibly in the spring, to cover a planned budgetary deficit of HRK 9.2 billion, which would be financed in part also with revenues from the privatisation of state property.

Agreements inked for EUR 30.6 mn reconstruction of dorms

A co-financing agreement to reconstruct dormitories in Zagreb and Osijek valued at more than 233 million kuna was signed on Tuesday in Zagreb.

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.

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.

Bad loans account for 16.56 pct of lending in 2015

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.

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. 

ZABA ends 2015 with loss of HRK 519mn

Zagrebacka Banka (ZABA) ended 2015 with a net loss of HRK 519 million due to the costs of conversion of CHF loans in the amount of HRK 1.56 billion, the bank said in its annual financial statement on Monday.

Average take-home pay in 2015 HRK 5,711

The average take-home pay for employees in legal entities in Croatia in December last year amounted to HRK 5,772, which was nominally 1% higher on the year or 1.6% in real terms, the State Bureau of Statistics said on Monday.

Croatia Airlines ends in black for third consecutive year

Croatia Airlines generated a net profit of HRK 13.8 million in 2015, which is its third consecutive year in the black, indicate the company's preliminary financial statements released on Monday.

PBZ nets HRK 193.2m in profits

Privredna Banka Zagreb (PBZ) finished 2015 with HRK 193.2 million in net profits, as against nearly HRK 643 million in 2014, as a result of the conversion of Swiss franc loans, PBZ said in a financial report on Monday.

Rijeka-based dock posts pre-tax profit of EUR 19.5M in 2015

The Rijeka-based 3.Maj shipyard, which is a part of the Uljanik Group, registered the total revenue of HRK 940.8 million in 2015, and its pre-tax profit was HRK 147.9 million, according to unaudited financial statement from that dock.

Budget revenues planned at HRK 113b, expenditures at HRK 120.4b

Maric said the plan is to reduce unemployment to below 16% this year and below 14% by the end of the projected period. He said employment growth would be monitored too.

INA Group revenues down 21 pct, net profit drops 83 pct

The INA Group in 2015 generated sales revenues in the amount of HRK 18.86 billion which is 21% less than in 2014, while the Group's net profit dropped by 83% to 58 million, according to the financial statement issued by this oil company on Wednesday.

Croatians spend EUR 6b on Visa cards in 2015

About EUR 6 billion or HRK 45 billion was spent on Visa credit cards in Croatia in 2015, up 22 percent on the year, it was said on Tuesday at a presentation of the company's business results.

Indictment upheld against two tax inspectors, the Cetinskis

The two tax inspectors and the Cetinskis are charged with abuse of office and authority, incitement to abuse of office and authority, and document forgery.

Podravka's 2015 net profit four times higher than year earlier

The Podravka Group posted a record high net profit of HRK 398 million kuna in 2015, which was four times higher than in 2014, with an increase in the revenues of nearly 8 per cent, ...

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.

HRK 40.2 million spent in election campaign

A total of HRK 12 million was donated to the election participants, of which HRK 7.3 million was donated to the Croatian Democratic Union (HDZ)-led Patriotic Coalition.

Croatia's real agriculture income up 23 pct

The value of real income in agriculture in Croatia in 2015 was HRK 6.9 billion, which is an increase of 23.3 per cent in relation to the previous year, according to the second estimate of the National Bureau of Statistics (DZS), released on Monday.

Minister says family farms foundation of agricultural development

In an interview with Croatian Television Romic said that there would be no new hiring in his ministry and that talks were under way on restructuring and ways to make savings in the ministry.

HPB generates record profit in 2015

"In an extremely demanding year - 2015 - HPB managed to inject fresh capital with the participation of private investors, implement reorganisation, improve business efficiency, attract new clients and generate the best business results in corporate history," 

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).

ZSE Crobex index slides to lowest level since April 2009

The Crobex was down 0.74% to close at 1,576.47 points, its lowest level since 29 April 2009 when it closed at 1,539.29 points.

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.

Hungarian-Croatian Chamber of Indistry and Trade to go bankrupt

The Hungarian-Croatian Chamber of Industry and Commerce was set up in 2006 to promote economic and trade interest and advance the representation of interests of Hungarian companies doing business in Croatia.

FinMin says state purse in very good state

Lalovac said he hoped the new government would continue to reduce the income tax. This year the non-taxable part of income was increased, resulting in higher net salaries, consumption and GDP.

Minimum wage for 2016 increased by 3 pct

The nearly 3% rise also increases the share of minimum wage in the average gross salary paid from January to September 2015 to 38.8%.

HRK 2.34 bln spent for research and development in 2014

More than two-thirds of budget funds for research and development, or 67.6%, were intended for the sector of higher education, followed by the state sector, with a 26.4% share.

Crobex at lowest level since June 2012

These are the lowest values of the Crobex and the Crobex10 since late June 2012 and late September this year respectively.

Traditional consumer basket for holiday season estimated at HRK 1,956

A more modest basket, which includes costs of food for a three-member household, will range between HRK 802 and 530.

HDZ: Patriotic Coalition spent HRK 15.5 mln on campaigning

Of the HRK 11.5 million available, HRK 7.3 million came from donations and HRK 4.2 million was from their own assets. 

Croatia issues HRK 6 billion 11-year bond

The bond, maturing on 14 December 2026, carries a yield of 4.4 per cent and has a semi-annual coupon of 4.25 per cent.

Croatia's exports in first ten months up 10.8 pct

Foreign trade deficit at the end of October amounted to HRK 44.75 billion, which is 1.6% less on the year.

Croatia's budget gap in first ten months HRK 6.3 billion

In October alone, budgetary revenues totalled 9 billion kuna, down 7.7% from October 2014, while expenditures stood at 9.5 billion, or 7.1% less on the month.

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. 

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,

Exports grow 10.5% in first nine months

In the same period Croatia imported HRK 104.5 billion worth of goods, 5.5% or HRK 5.4 billion more than in the first nine months of 2014.

Assistant minister: Deficit might be lower than projected

Assistant Finance Minister and Chief State Treasurer Miljenko Ficor said on Thursday that the budget deficit was as planned and that by the end of the year it could be lower than expected.

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%.

Dalekovod earns HRK 32 mln in profit

The Zagreb-based power transmission lines manufacturer Dalekovod earned HRK 31.9 million in net profit in the first nine months of 2015, ...

Adris Group's Q1-Q3 net profit up 8.2 pct

In the first three quarters of 2015, the Adris Group's total revenues  came to HRK 8.3 billion, including 4.3 billion of revenues from the sales of commodities ...

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, ...

DZS: Budget deficit in 2014 HRK 450 mln lower, gov't debt HRK 5 mln higher

The general government debt in 2014 amounted to HRK 279.57 billion or 85.1% of GDP, while initial estimates forecasted a debt of HRK 279.56 billion or 85% of GDP.