According to World Economic Forum's Global Competitiveness Report 2017-2018, financial market development in Croatia is scored 3.6 out of maximum 7.0 and ranked 95th out of 138 analysed economies, trustworthiness and confidence of financial market is scored 4.2 (78th place).
Chart 1. Financial Market Development in Croatia. Source: WEF.
Soundness of banks is scored 4.9 bringing Croatia into the 69th place.
Chart 2. Soundness of Banks in Croatia. Source: WEF.
Banks in Croatia are mainly focused on the following areas:
Currently there are 26 credit institutions operating in Croatia.
In 2018 consolidated banking assets in Croatia were 64,698.16 mln EUR. The consolidated banking assets' evolution is shown at Chart 3 below.
Chart 3. Consolidated banking assets in Croatia.
Recent structural changes (2013 - 2018) of the banking sector of Croatia are summarised in Table 1.
|Number of Opened Banks||0||0||0||0||0||0|
|Number of Closed Banks||0||2||0||1||1||5|
Table 1. Recent structural changes in the banking sector of Croatia.
All the credit institutions operating in Croatia can be classified into several categories. Table 2 summarises the number of banks in each category.
|Category||Number of Banks|
|Branches of foreign banks||1|
|Housing savings banks||3|
There are 1 branches of foreign banks from 1 different countries in Croatia. Table 3 shows the number of branches grouped by the country of origin.
|Country of Origin||Number of Branches|
Deposit guarantee scheme is a financial stability mechanism implemented in many countries to protect bank depositors against the loss of their deposits in the case when a bank is unable to meet its obligations to depositors by compensating certain deposits held by depositors of the bank. This compensation is paid out from the contributions which banks have made into a deposit guarantee fund.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in Croatia are summarised in Table 4.
Table 4. Deposit guarantee scheme in Croatia.
Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.
Local currency (Croatian kuna) deposit ceiling for Croatia is set to Baa1 (lower medium grade), foreign currency deposit ceiling is Ba3 (non-investment grade speculative).
Chart 4. Deposit Rates in Croatia. Source: ECB.