ZAGREB, Sept 12 (Hina) - Croatian banks, 22 in number in the period from 1992 to 1994 approved almost 27 thousand clients more than 422 million German marks worth of loans to purchase shares in 427 companies in the privatisation
process.
ZAGREB, Sept 12 (Hina) - Croatian banks, 22 in number in the period
from 1992 to 1994 approved almost 27 thousand clients more than 422
million German marks worth of loans to purchase shares in 427
companies in the privatisation process. #L#
The largest part of 'manager' loans were approved in 1993 and 1994
under the conditions of repayment periods between 4 to 12 months, a
grace period of 12 to 24 months with a foreign currency clause and
interest rate between 5 to 12 per cent.
Repayments were insured mostly with lodged shares bought with the
loans and mortgages on real estate by clients and other mortgage
guarantors.
A report on the so-called manager loans, that the Croatian National
Bank (HNB) forwarded to Croatian Sabor early August, contains
details on loans approved by 22 banks for clients, the state of
repayments and loans approved in keeping with valid regulations.
The name of clients who were granted loans are not noted because as
the central bank said this would be in opposition to provisions in
the Law on Banks in preserving bank secrets.
However, if the Office for Legislature and other relevant
institutions establish that releasing these names would not
violate bank secrets then they could be released, the HNB
explained.
Of the total number of loans approved, unpaid repayments amounted
to 60 million German marks on 30 June this year,. The most frequent
reason for repayments not being met was insolvent debtors.
The majority of loans, the HNB reported, were approved by Rijecka
Bank for the purchase of shares in 73 companies with a total value of
DM84.6 million to 13,639 users.
Privredna Bank Zagreb is the second-ranked according to the amount
of the granted loans. It approved loans to 3,664 clients with a
total value of 76 million to purchase shares in 32 companies.
Zagrebacka Bank approved loans valued at DM62.3 million to 769
clients.
Croatia Bank approved 53 loans valued at DM25.7 million for shares
in 26 companies.
Erste & Steiermarkische Bank issued loans valued at 14 million
German marks to 695 users to purchase shares in 23 companies.
(hina) sp ms