HVB CROATIA (F. BA/CA CROATIA)

Location:

Croatia

Project number:

3468

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

24 Sep 1996

Status:

Completed

PSD disclosed:

10 Dec 1998

Project Description

Bank Austria Creditanstalt Croatia d.d. is a universal bank with a full banking licence. Its headquarters are in Zagreb and it has branches throughout the region. Its core business includes provision of loans and guarantees, treasury and foreign exchange services, deposit and term account maintenance, payment transfers for the corporate and retail private sector and tourist-related services (money exchange, credit cards). Bank Austria Creditanstalt AG, Vienna, is the parent company and has provided significant management and credit support.
The project aims to expand the operations of Bank Austria Creditanstalt Croatia d.d., which will allow: (i) the expansion of corporate lending to local and international small and medium-sized enterprises (SMEs); (ii) expansion of retail operations with provision of mortgage lending business; (iii) the establishment of a building society; and (iv) the opening of new branches

Transition Impact

The project will assist the transition process by:
  • introducing new financial products and by establishing a building society that will develop the local mortgage market;
  • increasing competition for the corporate and retail sector by providing competitive pricing and high-quality services;
  • providing medium / long-term funding for private enterprises in Croatia, which is currently limited in the country;
  • contributing to employment and training of local staff.

The Client

Bank Austria Creditanstalt Croatia d.d. is a universal bank with a full banking licence. Its headquarters are in Zagreb and it has branches throughout the region. Its core business includes provision of loans and guarantees, treasury and foreign exchange services, deposit and term account maintenance, payment transfers for the corporate and retail private sector and tourist-related services (money exchange, credit cards). Bank Austria Creditanstalt AG, Vienna, is the parent company and has provided significant management and credit support.

EBRD Finance

Equity investment of up to HRK 32.5 million (Euro 4.5 million).

Project Cost

HRK 32.5 million (Euro 4.5 million).

Environmental Impact

Bank Austria Creditanstalt Croatia d.d. will carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks. In implementing these procedures, it will require its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements.

Technical Cooperation

None

Company Contact

 

Business opportunities

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