Croatian Postal Bank Reports Q1 Net Profit of HRK 30m

Total Croatia News

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Image: HPB/Financial statement 2021
Image: HPB/Financial statement 2021

The main driver of the net profit achieved was operating profit, which decreased by 59.5%, from HRK 74 million to HRK 30 million.

Operating revenue decreased by about HRK 34 million to HRK 157 million, while operating expenditure jumped by HRK 10 million to HRK 126 million.

Net interest revenue fell by 7.1% from HRK 135 million to HRK 126 million.

Net revenue from commissions was the highest in the past five years, amounting to HRK 43 million, up HRK 1.8 million or 4.2%.

The bank’s assets as at 31 March 2022 stood at HRK 28.8 billion, or about HRK 893 million more year-on-year.

The gross credit portfolio increased by HRK 339 million to HRK 16.1 billion, while deposits increased by HRK 1.05 billion to HRK 24.5 billion.

Successful acquisition of Sberbank d.d.

HPB recalled the recent acquisition of Sberbank d.d., and its successful bailout. The bank is now operating within the HPB Group under the name Nova Hrvatska Banka.

At the end of March, Nova Hrvatska Banka had 78,000 clients who are natural persons and 5,000 legal entities, and its assets were valued at HRK 9.6 billion. The bank’s capital adequacy ratio is 19.7%, with 5.2% of bad loans. Its net profit in Q1 amounted to HRK 3.2 million. This, however, does not included inherited lawsuits related to loans pegged to the Swiss franc amounting to HRK 9.8 million and possible provisions for court disputes amounting to HRK 20 million.

For more, check out our business section.


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