ZAGREBACKA BANK REALISES 464-MILLION-KUNA PROFIT IN FIRST SIX MONTHS

ZAGREB, Sept 8 (Hina) - The gross profit of the Zagrebacka Bank in the first half of this year has increased several times in relation to the same period last year to 411 million kuna. The pre-tax profit amounts to 464 million kuna, which is an increase of 298 percent. The high profit is the result of an increased income from the basic banking activity as well as the sale of part of Pliva pharmaceutical company's portfolio. In the first half of this year the Zagrebacka Bank also realised a record increase in deposits by citizens and legal entities. In relation to late December last year, the total deposits, not including old currency deposits, rose by 15 percent to 2.47 billion kuna at the level of the bank, and by 25 percent to 4.4 billion kuna at the level of the group. The Zagrebacka Bank has also carried out the merger of the Zagrebacka Bank Pomorska Bank Split and the Holding Zagrebacka Bank, acquired a majority share in the Varazdinska Bank d.d., taken over obligations toward depositors and clients of the Cibalae Bank d.d. Vinkovci and increased its share in the Hrvatska Bank d.d. Mostar, which today is called the Zagrebacka Bank BH. (hina) rml