Croatian Bank for Reconstruction and Development (HBOR) posts profits in the amount of 107.2 million kuna in the first six months of the year.
Profits of the Croatian Bank for Reconstruction and Development (HBOR) in the first six months of this year amounted to 107.2 million kuna, announced the Bank on Wednesday, reports seebiz.eu on August 31, 2016.
During this period, HBOR generated total revenues of 445.7 million kuna and had expenditures of 338.5 million kuna.
Through lending and other activities, HBOR in the first half of the year supported 1,689 projects of Croatian companies with a total amount of 5.7 billion kuna. It approved 1,588 loans totalling 4.2 billion kuna, with 73 percent of that amount being related to the financing of investments.
The most active users of HBOR’s loans were small and medium-sized enterprises which received a total of 3.2 billion kuna, which is 2.5 times more than in the same period last year. A large number of supported projects is the result of new measures introduced to enhance cooperation with leasing companies and commercial banks, with the aim to facilitate favourable credit conditions for businesses, said HBOR.
The Bank pointed out its investments in the tourism sector, which was supported by 834.7 million kuna, which is an increase of almost 50 percent compared to the same period last year. In the first six months of this year, HBOR supported Croatian exporters with a total of 3.2 billion kuna. The Bank issued guarantees for export contracts in the amount of 633.57 million kuna, which represents an increase of 12.4 percent compared to the same period last year.
During this period, the greatest interest for export support was registered for the markets of the Netherlands, Serbia, Armenia, Bosnia and Herzegovina, Algeria and the Russian Federation, reported HBOR.
