DAB ANNOUNCES START OF PRIVATISATION OF DUBROVACKA, CROATIA BANKS

ZAGREB, June 11 (Hina) - The State Agency for the Insurance of Savings Deposits and Bank Consolidation (DAB) announced on Monday the start of the privatisation of the Dubrovacka and Croatia banks, calling on interested investors to demonstrate their interest by June 23. DAB, which is a 100-percent owner of the two banks, has announced that it will sell 75 percent minus two shares of its share in the two banks by selling the shares or increasing the capital stock. According to the privatisation announcement, "DAB intends to privatise the banks by selling (its share) to one or more strategic investors from among qualified international financial institutions. The exclusive consultants in the process are CAIB and Deloitte & Touche. The Dubrovacka Banka is the seventh biggest bank in Croatia and it controls 2.9 percent of the market according to its assets. The bank is the leading bank in the area of the southern Adriatic and on December 31, 2000 its capital stock amounted to 112 million kuna (some USD 13.09 million), while its total assets amounted to 3.244 million kuna (USD 379,415). The Croatia Banka controls 1.2 percent of the market, and it focuses on small and medium businesses. On the last day of 2000, its stock capital amounted to 123 million kuna (USD 14.38 million) and its assets to 1.288 million kuna (USD 150,640). (hina) rml