Fina: Businesses in Tourism and Hospitality Most Exposed to Corona Crisis

This leading Croatian provider of financial and electronic services has conducted an analysis of creditworthiness of entrepreneurs in the country and the analysis has been based on Fina’s methodology that includes Probability of Default (PD) and compliance with Basel III (Third Basel Accord or Basel Standards) guidelines.

The findings of the analysis show that 1,251 entrepreneurs in Croatia do business at minimum probability of default.

Default probability is the likelihood over a specified period, usually one year, that a borrower will not be able to make scheduled repayments.

Of those 1,251 entrepreneurs, 1,085 have not applied for state aid under the government’s schemes for support to businesses to mitigate the effects of the corona crisis.

Of those 1,085 entrepreneurs whose business is stable despite the COVID-19 pandemic, most are in the manufacturing industry, 263, and as many as 259 stable entrepreneurs are in the wholesale and retail sector.

The third-ranked sector with stable entrepreneurs is the sector of expert, scientific and technical activities (133), the construction sector follows (87), and 63 stable entrepreneurs are in the water supply and waste water management sector.

Broken down by the region, the City of Zagreb with 487 stable entrepreneurs tops the ranking, and Zagreb County follows (81), Istria County ranks third (65), Split-Dalmatia County comes in as the fourth (64) while the Rijeka region has one fewer stable entrepreneur.

Broken down by the type of businesses in terms of their size, medium-sized enterprises are the most stable enterprises (715), 183 big companies are described as stable, and 181 micro businesses are in this category and only six (6) small businesses.

 

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