ZAGREB, February 22, 2018 – The Croatian National Bank (HNB) on Thursday published a reviewed list of systemically important credit institutions in the country, which includes eight banks.
The banks are: Zagrebačka Banka, Erste&Steiermaerkische Bank, Privredna Banka Zagreb, Raiffeisenbank Austria, Splitska Banka, Addiko Bank, Hrvatska Poštanska Banka and OTP Banka Hrvatska. Sberbank is no longer included on the list.
As of 2016, the other systemically important institutions buffer is applied to all banks that have been identified as significant or systemically important because of their size, interconnectedness or noticeable cross-border activities. Currently, seven of these banks are subject to a buffer requirement of 2.0%, while this requirement for Hrvatska Poštanska Banka, or Croatian Postal Bank, is 0.2%.
On 2 May 2017, OTP purchased 100% of shares in Societe Generale-Splitska Banka, which changed the name to Splitska Banka on 15 May. The bank had earlier been identified as systemically important and is subject to a buffer rate of 2.0%.
The HNB said in a statement that OTP Banka Hrvatska is included among the systemically important banks because it is the parent credit institution of a group that includes a systemically important bank – Splitska Banka.
Sberbank is no longer classified as other systemically important credit institution because it does not meet the criteria for systemic importance under Article 138 of the Credit Institutions Act, the central bank said.
The HNB is required by this law to review the status of other systemically important credit institutions once a year.
