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With capital increase HPB's capital adequacy to exceed regulatory minimum

Author: itom
ZAGREB, June 8 (Hina) - The General Assembly of the Croatian Postal Bank (HPB) on Monday adopted a decision on increasing the bank's core capital by converting claims from the bank and issuing new stocks, which will increase the HPB's core capital by HRK 252 million to HRK 1.2 billion and make its capital adequacy exceed the regulatory minimum.

The HPB's core capital currently amounts to HRK 966.6 million and its capital adequacy is down to below the regulatory minimum of 8%, due to the central bank's demands for additional provisioning. The HPB's capital adequacy is now at 6.65%.

The Croatian National Bank has asked the HPB to increase its capital adequacy to above 8%, no later than 30 June.

The state-owned HPB said that with the decision on increasing the core capital the bank's capital adequacy would exceed 9%, more than the regulatory minimum.

The HPB wrapped up the first quarter of 2015 with a twice as high net profit than the year before. The bank's net profit went up 83% reaching HRK 42.3 million. At the same time, the bank's operating profit rose by 6.3% to 74.7 million kuna.

(Hina) its

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