Authorisation granted to the first transformed savings bank

Published: 11/6/2008

At its session today, the Croatian National Bank Council reviewed a report on monetary and economic developments in the previous period and a report on bank operations in the first quarter of this year. The Council was also informed of a new financial stability analysis which is to be released as a regular CNB publication.

Also at this session, Obrtnička štedna banka d.d., Zagreb was granted authorisation as the first financial institution that, pursuant to legal regulations, transformed from a savings and loan association (Zanatska štedno-kreditna zadruga, Zagreb) into a savings bank. BRA-MA štedno kreditna zadruga, Split and SOLIDA štedno-kreditna zadruga, Varaždin were denied authorisation to continue operating as savings banks since they failed to meet the legal requirements for such a transformation.

The CNB Council granted approval to ŠTED NOVA d.o.o., Zagreb for acquiring a share of over 75 percent in the initial capital of Štedbanka d.d., Zagreb. In addition, approval was given for the reappointment of Davorka Jakir as a Member of the Management Board of Podravska banka d.d., Koprivnica.