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Croatian banks generate Q1 gross profit of HRK 1.32 bln

ZAGREB, June 13 (Hina) - In the first quarter of this year Croatian banks generated a total pre-tax profit of HRK 1.32 billion, or 24.38 per cent more than in the same period last year, the Croatian National Bank (HNB) said in a statement after a meeting of the HNB Council on Wednesday.
ZAGREB, June 13 (Hina) - In the first quarter of this year Croatian banks generated a total pre-tax profit of HRK 1.32 billion, or 24.38 per cent more than in the same period last year, the Croatian National Bank (HNB) said in a statement after a meeting of the HNB Council on Wednesday.

The Council discussed the latest economic and monetary trends, a report on the situation in the banking system in the first quarter, and a report on the work of the Croatian Monetary Institute in 2006.

In the first quarter of this year, 33 banks and five building societies were operating in Croatia. Their liable capital increased by HRK 4.2 billion, or 12.85 per, whereby the capital adequacy rate rose to 15.37 per cent, the statement said.

Assets increased by HRK 9.3 billion, or 3.04 per cent, the return on assets rate was 1.73 per cent and the return on capital rate 12.92 per cent.

The main sources of bank funding were households (43.1 per cent of all sources and 53.5 per cent of deposits), followed by non-residents (27.89 per cent), commercial companies (16.11 per cent) and others.

Net interest revenue increased by 7.65 per cent and non-interest revenue by as much as 48.15 per cent, the statement said.

(1 euro = 7.34 kuna)

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