Hypo Banka Croatia (equity)



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

17 Dec 1996



PSD disclosed:

21 Nov 1996

Project Description

EBRD will take a 24.99 per cent stake in Hypo Banka Croatia while Kärntner Landes und Hypotheken-bank (KH) of Austria will take 75.01 per cent in the capital of this newly established Croatian bank. The operation has supported the capitalisation of a new financial intermediary in Croatia which is contributing to increasing competition in the banking sector.

Transition Impact

This operation will help to: a) increase availability of funding for the development of the local Croatian economy; b) increase sector competition with the introduction of innovative banking products at competitive prices; c) integrate the Croatian economy within the EU market; d) transfer banking know-how to local staff who will eventually take charge of the local operations.

The Client

Hypo Banka Croatia (HBC) has been established to support the development of the local financial institutions sector, with the introduction of high quality banking products and services. HBC is operating as a universal bank and offers to Croatian and foreign customers a complete range of products and via its mother company a network of branches and subsidiaries in southern Austria, north-east Italy, Slovenia and Croatia.

EBRD Finance

The EBRD has purchased 4,612 newly issued registered shares with a nominal value of HRK 4,000, with a total investment of HRK 18.5 million (ECU 2.7 million equivalent).

Project Cost

HRK 73.8 million (ECU 10.8 million).

Environmental Impact

This financial intermediary project will have no direct impact on the environment. HBC has agreed to carry out its operations in accordance with the EBRD's "Environmental Procedures for Local Banks". In implementing these procedures, HBC will require its borrowers to comply with Croatian health and safety, environmental and public consultation requirements. HBC will submit an annual environmental report to the Bank.

Technical Cooperation

Technical cooperation funding has been used for the training of HBC staff in environmental procedures.


Business opportunities

For business opportunities or procurement, contact the client company.

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.