CROATIA'S LARGEST BANK RECEIVES BOSNIAN FINANCIAL AWARD

SARAJEVO, June 21 (Hina) - Croatia's largest bank, Zagrebacka Banka, is the recipient of this year's award of the Bosnia- Herzegovina Financial Forum, an institution pooling Bosnia's most successful businessmen and financial experts. The award was received in Sarajevo on Wednesday by Franjo Lukovic, the bank's chairman of the board. According to Peter Nicholl, the governor of Bosnia's central bank, Zagrebacka Banka has demonstrated its skills by successfully implementing a new payment system in Bosnia. Zagrebacka entered the Bosnian market in 1999 by taking over part of the ownership in Mostar-based Hrvatska Banka. It became the majority owner in 2000, establishing Zagrebacka Banka BH. Later last year, Zagrebacka purchased the majority interest in the Sarajevo-based Univerzal Banka. Shortly thereafter, Univerzal purchased the Tuzla-based Komercijalna Banka, whereby Zagrebacka became one of the most influential monetary institutions in the neighbouring state. According to chairman of the board Lukovic, "our goal is to become one of the leading banks in Southeast Europe." He referred to cooperation with partners in Slovenia, as well as the Yugoslav market, which he said "cries out for a stable banking system." (hina) ha