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EBRD extends credit line to Dalmatinska Banka in Croatia
To meet continuing demand from small and medium-sized companies for term financing, the European Bank for Reconstruction and Development (EBRD) has extended by DM 20 million (ECU 10.4 million) the existing credit line to Dalmatinska Banka. Signed in July 1995, the initial credit line was DM 20 million, of which DM 18 million has already been committed.
"The existing credit line to Dalmatinska Banka has played a major role in the development of Croatian agribusiness, bringing vital financing to this sector," said Hans-Christian Jacobsen, Director of the EBRD's Agribusiness team. "Due to the success of the initial credit line, the DM 20 million increase will be extended to small and medium-sized enterprises in a range of sectors."
Under the existing credit line, Dalmatinska Banka has funded 11 projects, including potato and onion production, cattle feed, factory fishing, and dairy and food packaging. The bank has already identified a strong pipeline of projects for the extension to the credit line, in sectors such as agribusiness, chemicals, trade and tourism.
As the legal successor to Komunala Banka, Dalmatinska Banka was re-established as a joint-stock company in December 1989 with a universal banking licence. It is 69 per cent privately owned and out of 57 banks in Croatia is ranked ninth by capital and sixth by total assets. With its head office in Zadar, the bank has 15 branches and regional offices throughout Croatia and employs 400 staff.
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