Croatia Pushes Merger of 7 Small Banks, Business.hr Says
Centar Banka (CEBARA) d.d., Vaba d.d., Jadranska Banka d.d., Banka Kovanica d.d. and Croatia Banka d.d. are expected to merge with Karlovacka Banka d.d., which on Nov. 19 merged with Nava Banka d.d. (NVBARA), according to the Zagreb-based business news portal.
The central bank in November last year put Karlovacka, Vaba and Nava on watch, saying they are “near” the capitalization limit of 12 percent. The central bank at the same time withdrew the operating license for Credo Banka d.d. for falling below the limit.
More than 90 percent of the country’s banking assets are owned by foreign lenders.
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