ZAGREB, Aug 4 (Hina) - Foreign banks could have taken over a more active role in the recovery of the Croatian economy in recent years, according to the opinion of 60 percent of directors of Croatian firms, who were respondents to a
poll conducted by a Zagreb-based economic journal "Privredni Vjesnik" and Studio Weber. Even 75 percent of the respondents believe that Croatia needs a strong state-run bank which will be oriented towards the stimulation of the national entrepreneurship. The poll has recently been carried out among directors of 88 Croatian companies, within research called "Croatia's Banking System In the Eyes of Business People." The idea about the establishment of a state-run bank, which will be directed towards strong encouragement of the development of national economy, in the current conditions when 85 percent of the banks' assets in Croatia is alr
ZAGREB, Aug 4 (Hina) - Foreign banks could have taken over a more
active role in the recovery of the Croatian economy in recent years,
according to the opinion of 60 percent of directors of Croatian
firms, who were respondents to a poll conducted by a Zagreb-based
economic journal "Privredni Vjesnik" and Studio Weber.
Even 75 percent of the respondents believe that Croatia needs a
strong state-run bank which will be oriented towards the
stimulation of the national entrepreneurship.
The poll has recently been carried out among directors of 88
Croatian companies, within research called "Croatia's Banking
System In the Eyes of Business People."
The idea about the establishment of a state-run bank, which will be
directed towards strong encouragement of the development of
national economy, in the current conditions when 85 percent of the
banks' assets in Croatia is already concentrated in the hands of
foreign banks, seems to enjoy the support from Croatian managers.
Over a half of the respondents believe that the incumbent Croatian
Bank for Reconstruction and Development (HBOR) could be
transformed in such state-run bank.
In mind of 68 percent of the questioned managers, the banks which
have been operating in Croatia, have improved their work. To
corroborate their statement they cited new services of the banks,
lower interest rates, better conditions for taking loans, better
flexibility and reliability as well as security of the banks.
According to the poll, 57 percent of the respondents believe that
the arrival of foreign banks in Croatia has improved the quality of
banking services only in some segments, whereas one third (34
percent of the respondents) maintains that the arrival of foreign
banks helped improve the quality of all the segments of the Croatian
banking system.
According to 61 percent of the questioned directors, foreign banks
could have taken over, to a greater degree, a more active role in the
revival of the national economy, while 30 percent of the
respondents maintains that they could have assumed a somewhat more
active role considering the potential of such financial
institutions.
Asked about the further concentration and merger of banks in
Croatia, 52 percent of the questioned directors said such process
should be allowed but it should be carried out under altered
regulations. In addition, 23 percent believes that the further
concentration is inevitable, while another 23 percent of
respondents maintain that the further process should be stopped
whatever it costs.
(hina) ms