March 6, 2019 / 4:33 PM / 2 months ago

Croatia's banks post 2018 pretax profit of $861 mln

ZAGREB, March 6 (Reuters) - Croatia’s banks, largely owned by foreign lenders, posted pretax profit of 5.64 billion kuna ($861 million) in 2018 compared to 3.9 billion kuna a year before, the central bank said on Wednesday.

In 2017 the banks’ profitability was dented by a debt crisis that hit Croatia’s biggest private firm Agrokor.

In 2018, Zagrebacka Banka, owned by Italy’s Unicredit , notched up the biggest profit. It controls 27.3 percent of the market and reported pretax profit of 2.11 billion kuna.

The second biggest lender Privredna Banka Zagreb, owned by Italy’s Intesa Sanpaolo, made a pretax profit of 1.47 billion kuna.

The overall assets of Croatia’s 21 banks at the end of last year amounted to 408.7 billion kuna.

The level of bad loans fell to 9.81 percent from 11.35 percent in 2017, having peaked in mid-2015. ($1 = 6.5501 kuna) (Reporting by Igor Ilic; Editing by Elaine Hardcastle)

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