Banks in Croatia

8 November 2018

Typically for Eastern European countries, Croatian banking sector is characterized by relatively small size, small number of banks with wide business focus, high degree of concentration and high share of foreign capital.

The most commonly used ratio to measure the size of a banking sector, namely the ratio of consolidated banking assets to gross domestic product, for Croatia shows that its banking sector is roughly the same size as its national economy (the ratio is 125.80 %).

Most of the banks operating in Croatia are universal banks providing products and services in retail and corporate banking. Although there are no pure direct banks in Croatia, several banks offer their products via the Internet. There are also several banks specialized in providing housing financing solutions, having market share of 1.99 %.

The major banks of Croatia are mostly foreign-controlled, while there are several small privately-owned banks with Croatian capital. In 2017 9 banks reported annual loss, compared to 6 banks in 2016. During 2013-2018 8 has been closed down, no new banks have been opened up during the period.

RankNameTotal AssetsMarket ShareAnnual ProfitCountry of OriginBank Category
1 Zagrebačka banka d.d.102188.36 25.60%839.36  ItalyCommercial banks
2 Privredna banka Zagreb d.d.75881.49 19.01%1443.44  ItalyCommercial banks
3 Erste & Steiermärkische Bank d.d.57205.63 14.33%649.50  AustriaCommercial banks
4 Raiffeisenbank Austria d.d.31385.71 7.86%395.62  AustriaCommercial banks
5 Splitska banka d.d.26891.86 6.74%-84.87  HungaryCommercial banks
6 Addiko Bank d.d.21199.22 5.31%229.65  AustriaCommercial banks
7 Hrvatska poštanska banka d.d.19798.15 4.96%8.33  CroatiaCommercial banks
8 OTP banka d.d.19646.97 4.92%52.19  HungaryCommercial banks
9 Sberbank d.d.8896.76 2.23%-135.82  Russian FederationCommercial banks
10 Kreditna banka Zagreb d.d.3383.19 0.85%20.77  CroatiaCommercial banks
11 Istarska kreditna banka Umag d.d.3367.72 0.84%26.27  CroatiaCommercial banks
12 Podravska banka d.d.3274.91 0.82%14.10  CroatiaCommercial banks
13 Prva stambena štedionica d.d. (closed)2643.63 0.66%21.41  ItalyHousing savings banks
14 Croatia banka d.d.2494.33 0.62%-30.63  CroatiaCommercial banks
15 Karlovačka banka d.d.2181.37 0.55%7.67  CroatiaCommercial banks
16 KentBank d.d.2078.62 0.52%5.24  CroatiaCommercial banks
17 Wüstenrot stambena štedionica d.d.1901.96 0.48%1.74  AustriaHousing savings banks
18 PBZ stambena štedionica d.d.1819.62 0.46%8.89  CroatiaHousing savings banks
19 Partner banka d.d.1791.77 0.45%6.80  CroatiaCommercial banks
20 Imex banka d.d.1746.60 0.44%-14.19  CroatiaCommercial banks
21 Jadranska banka d.d.1729.28 0.43%-31.00  CroatiaCommercial banks
22 Slatinska banka d.d.1593.86 0.40%0.65  CroatiaCommercial banks
23 J&T banka d.d.1276.20 0.32%-29.07  Czech RepublicCommercial banks
24 Raiffeisen stambena štedionica d.d.1196.11 0.30%16.99  AustriaHousing savings banks
25 Banka Kovanica d.d.1145.09 0.29%5.31  CroatiaCommercial banks
26 Veneto banka d.d. (closed)1142.19 0.29%-15.15  ItalyCommercial banks
27 Primorska banka d.d. (closed)567.74 0.14%-9.06  CroatiaCommercial banks
28 Samoborska banka d.d.469.41 0.12%-7.05  CroatiaCommercial banks
29 HPB - Stambena štedionica d.d.353.34 0.09%0.32  CroatiaHousing savings banks
 

All the data are for 2017. Total assets and annual profit are provided in million HRK.

Out of 29 banks operating in Croatia, there are 8 largest banks comprising together about 90% of consolidated banking assets, each of the banks has market share of more than 5% (or slightly less than 5%) of total banking assets. Among these 8 banks only 1 bank, Hrvatska poštanska banka d.d., has Croatian capital, while the other 7 banksare foreign-controlled, originated from Italy, Austria and Hungary.

Market Shares of Major Banks in Croatia

3 largest banks, Zagrebačka banka, Privredna banka and Erste & Steiermärkische Bank, have been showing slight assets growth starting from 2008, while annual profit significantly declined, turning into annual loss in 2015 for all the three banks, however quickly recovering in 2016-2017.

Total Assets of Major Banks in CroatiaAnnual Profit of Major Banks in CroatiaReturn on Assets of Major Banks in Croatia

Banks Offering Products via the Internet

Podravska banka d.d.

Podravska Banka (POBA) is one of the oldest banks in Croatia tracing its roots to Koprivnička dionička štedionica (eng - Equity Savings Bank of Koprivnič), established in 1872. Podravska Banka offers a range of retail banking products and services focusing on those for individuals, sole traders, self-employed professionals and small- and medium-sized enterprises. The bank also offers investment banking solutions and online brokerage.

Podravska banka d.d. is the 12th largest bank in Croatia in terms of total assets. In 2017 its total assets were 3 274,91 mln HRK, providing the bank with the market share of 0.82%. In 2017 the bank's annual profit was 14,10 mln HRK.

Services
Retail Banking
Investment Banking
Online Brokerage

Products

KentBank d.d.

KentBank is a modern universal bank, providing a broad range of retail, corporate banking products and services with the focus in retail and SME segments: KentBank offers products and services individually tailored and adjusted to the needs of each client, either a natural person or a business entity.

KentBank d.d. is the 16th largest bank in Croatia in terms of total assets. In 2017 its total assets were 2 078,62 mln HRK, providing the bank with the market share of 0.52%. In 2017 the bank's annual profit was 5,24 mln HRK.

Services
Retail Banking
Corporate Banking

Products

J&T banka d.d.

Vaba d.d. Banka Varaždin (VABA Banka) was incorporated in 1994 as Brodsko-posavska banka d.d. and changed its name to Vaba d.d. Banka Varaždin in 2005. In 2014-2015 the bank was recapitalized by J&T Banka (Czech Republic) and J&T Bank became the majority owner of Vaba d.d. Banka Varaždin. VABA Banka offers a range of retail and corporate banking products and services to domestic and international clients.

J&T banka d.d. is the 23rd largest bank in Croatia in terms of total assets. In 2017 its total assets were 1 276,20 mln HRK, providing the bank with the market share of 0.32%. In 2017 the bank's annual profit was -29,07 mln HRK.

Services
Retail Banking
Corporate Banking

Products

Banka Kovanica d.d.

Established in 1997, Banka Kovanica since May 2007 is owned by Cassa di Risparmio della Repubblica di San Marino. Banka Kovanica provides retail and corporate banking products and services to both domestic and international clients.

Banka Kovanica d.d. is the 25th largest bank in Croatia in terms of total assets. In 2017 its total assets were 1 145,09 mln HRK, providing the bank with the market share of 0.29%. In 2017 the bank's annual profit was 5,31 mln HRK.

Services
Retail Banking
Corporate Banking

Products

Closed Banks

July 2014: Nava banka d.d.

On 17 July 2014 Croatian National Bank adopted a decision on the unavailability of deposits in Nava banka. State Agency for Deposit InsuranceInsurance and Bank Rehabilitation of Croatia shallwithin a maximum of 30 working days of this decision prepare the payment of compensation for insured deposits and publish a call for compensation payment on its website.

Nava banka d.d. was the 33rd largest bank in Croatia in terms of total assets. In 2013 its total assets were 301,58 mln HRK, providing the bank with the market share of 0.07%. In 2013 the bank's annual profit was -12,38 mln HRK.

December 2014: Banco Popolare Croatia d.d.

From 1 December 2014, Banco Popolare Croatia is integrated into OTP Bank Croatia.

Banco Popolare Croatia d.d. was the 17th largest bank in Croatia in terms of total assets. In 2013 its total assets were 2 238,52 mln HRK, providing the bank with the market share of 0.55%. In 2013 the bank's annual profit was -78,93 mln HRK.

May 2016: Banka Splitsko-dalmatinska d.d.

On 24 May 2016 Croatian National Bank opened bankruptcy proceedings against Banka splitsko-dalmatinska d.d. The decision was made based on the fact that the shareholders were not ready to strengthen the capital and that resolution of Banka splitsko-dalmatinska d.d. was not necessary in the public interest.

Banka Splitsko-dalmatinska d.d. was the 30th largest bank in Croatia in terms of total assets. In 2015 its total assets were 455,04 mln HRK, providing the bank with the market share of 0.11%. In 2015 the bank's annual profit was -35,50 mln HRK.

December 2017: Štedbanka d.d.

On 27 December 2017 Štedbanka d.d. held an general meeting and adopted a decision to liquidate the company and initiate a regular liquidation procedure.

Štedbanka d.d. was the 27th largest bank in Croatia in terms of total assets. In 2016 its total assets were 891,10 mln HRK, providing the bank with the market share of 0.22%. In 2016 the bank's annual profit was 7,72 mln HRK.

March 2018: Tesla štedna banka d.d.

Tesla Štedna Banka was a savings bank, specialized on providing a wide range of savings products and loans to its customers, individuals and business entities. On March 30, 2018 bankruptcy proceedings were initiated against Tesla Štedna Banka.

Tesla štedna banka d.d. was the 31st largest bank in Croatia in terms of total assets. In 2016 its total assets were 3,64 mln HRK, providing the bank with the market share of 0.00%. In 2016 the bank's annual profit was -5,44 mln HRK.

June 2018: Primorska banka d.d.

Established in 2001, Primorska banka was a universal bank, offering a wide range of retail and business banking products and services. On 21 May 2018, the general assembly of Primorska banka adopted the Decision of entering into voluntary liquidation process and termination of business of Primorska banka as of 21 June 21 2018.

Primorska banka d.d. was the 27th largest bank in Croatia in terms of total assets. In 2017 its total assets were 567,74 mln HRK, providing the bank with the market share of 0.14%. In 2017 the bank's annual profit was -9,06 mln HRK.

June 2018: Prva stambena štedionica d.d.

Prva stambena štedionica d.d. was a housing savings bank providing mortgage loans and savings products to individuals. On 1 June 2018, Prva stambena štedionica d.d. was merged into Zagrebacka Banka.

Prva stambena štedionica d.d. was the 13th largest bank in Croatia in terms of total assets. In 2017 its total assets were 2 643,63 mln HRK, providing the bank with the market share of 0.66%. Prva stambena štedionica d.d. was the 1st largest housing savings bank in Croatia (out of 5 housing savings banks) having market share of 33.40% amongst the banks of this category. In 2017 the bank's annual profit was 21,41 mln HRK.

October 2018: Veneto banka d.d.

Veneto Banka was a universal bank, offering retail and corporate banking products and services to its customers. In October 2018, Veneto Banka was merged with Privredna banka Zagreb.

Veneto banka d.d. was the 26th largest bank in Croatia in terms of total assets. In 2017 its total assets were 1 142,19 mln HRK, providing the bank with the market share of 0.29%. In 2017 the bank's annual profit was -15,15 mln HRK.

See Also