ZAGREB, June 2 (Hina) - The Privredna Banka Zagreb (PBZ) bank realised a net profit of 221 million kuna (US$26.6 million) in the business year 1999, which is 86 percent more than the year before. At the same time, the Privredna Banka
Group's net profit in 1999 reached 198 million kuna (US$23.9 million), or 120 percent more than in 1998. PBZ decided at its annual assembly on Friday that the entire gain be kept for the bank's reserves. PBZ chairman of the board Bozo Prka said 1999 had been a watershed year in the bank's transactions. The State Agency for the Insurance of Saving Deposits and the Rehabilitation of Banks in December signed an agreement with Italy's Banca Commerciale Italiana (BIC), under which BIC through Comit Holding International, a society it owns, acquired 66.3 percent of PBZ's basic capital. This successfully completed the privatisation of the bank. Prka said PBZ and its o
ZAGREB, June 2 (Hina) - The Privredna Banka Zagreb (PBZ) bank
realised a net profit of 221 million kuna (US$26.6 million) in the
business year 1999, which is 86 percent more than the year before.
At the same time, the Privredna Banka Group's net profit in 1999
reached 198 million kuna (US$23.9 million), or 120 percent more
than in 1998.
PBZ decided at its annual assembly on Friday that the entire gain be
kept for the bank's reserves.
PBZ chairman of the board Bozo Prka said 1999 had been a watershed
year in the bank's transactions.
The State Agency for the Insurance of Saving Deposits and the
Rehabilitation of Banks in December signed an agreement with
Italy's Banca Commerciale Italiana (BIC), under which BIC through
Comit Holding International, a society it owns, acquired 66.3
percent of PBZ's basic capital. This successfully completed the
privatisation of the bank.
Prka said PBZ and its owner BIC would continue the positive business
trend over this year as well.
(hina) ha mm