Application for authorisation to establish a branch of a credit institution in another Member State
A credit institution having its head office in the Republic of Croatia that intends to establish a branch within the territory of another Member State is obligated to submit an application for authorisation to the Croatian National Bank, stating the Member State where it intends to open the branch, and enclose with the application:
- a business plan for the first three years of business, setting out the types and the scale of services it intends to provide through the branch and the organisational structure of the branch;
- the address in the host Member State from which the Croatian National Bank may obtain documentation on the branch; and
- the names and addresses of natural persons who will be responsible for directing the business of the branch.
The Croatian National Bank may request additional documentation within one month of receipt of the application. If the Croatian National Bank requests additional documentation, the date of its delivery is deemed to be the date of receipt of a valid application.
The Croatian National Bank will decide on the application of the credit institution to establish a branch (hereinafter referred to as 'authorisation to establish a branch in a Member State') at the latest within 60 days of the delivery date of a valid application and will notify the credit institution accordingly.
The Croatian National Bank will deliver to the competent authority of the host Member State without delay a notification on the authorisation, together with attachments and data on the amount and composition of own funds and own funds requirements of the credit institution calculated in accordance with Article 92 of Regulation (EU) No 575/2013 and will notify the credit institution accordingly.
The Croatian National Bank will refuse the credit institution's application if, on the basis of all available information, it assesses that:
- the credit institution does not have the appropriate organisational, technical and personnel structure or the adequate financial position to provide the planned scale of services in the Member State in question through a branch;
- the application to establish a branch represents an attempt to evade stricter rules and regulations in force in the Republic of Croatia; or
- this could jeopardise the safety and stability of the credit institution's operation.
A credit institution that has been authorised by the Croatian National Bank to establish a branch in another Member State may begin to provide services through a branch within the territory of another Member State:
- from the date it receives the notification from the competent authority of the host Member State of the conditions which, in the interests of the general good, must be met when providing services in that Member State;
- without receipt of such notification, following the expiry of a period of two months of receipt by the competent authority of the host Member State of the notification from the Croatian National Bank.
Where a credit institution that has been authorised by the Croatian National Bank to establish a branch in another Member State intends to establish any further branches in the same Member State, it will notify the Croatian National Bank thereof.