CNB Council: HRK 431.9m to be paid into the government budget

Published: 12/3/2014

At its session today, the Croatian National Bank Council examined the latest monetary and economic indicators as well as a report on the banking system condition in the last quarter of 2013.

Furthermore, the CNB Council adopted a report on the last year's international reserve management, showing that the reserves totalled EUR 12.9bn in late December 2013, an increase of EUR 1.67bn (about 15%) from the end of 2012. Net international reserves (which exclude reserve requirements, IMF's special drawing rights and MoF's foreign exchange funds) increased by EUR 340.5m (3.3%) in 2013, standing at slightly over EUR 10.5bn at the end of the year.

Also adopted were reports on the Croatian National Bank's financial operation in 2013, showing net income of HRK 735.5m. According to the prescribed formula, HRK 431.9m will be transferred to the government budget and the remaining amount will be allocated to the general reserves of the central bank.

The CNB Council approved the decision of the Supervisory Board of Banka Kovanica d.d. Varaždin to appoint Nicola Ceccaroli as Chairman of the Bank's Management Board and the decision of the Supervisory Board of Tesla štedna banka d.d., Zagreb to extend the mandates of Zvonko Agičić as Chairman and of Dubravka Filipčić as Member of the Bank's Management Board.

Pursuant to a CNB Council decision, this year's plan for the issue of commemorative coins and numismatic sets will be extended to include a 150 kuna commemorative silver coin marking the 2014 World Cup in Brazil. The commemorative coin is to be released for sale on 25 March 2014.