Banks Record €213.3m in Profits in Q1

By 5 June 2022
Banks Record €213.3m in Profits in Q1
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ZAGREB, 5 June 2022 - In the first quarter of 2022, banks in Croatia recorded a total profit of HRK 1.57 billion, up 46% on the year, the central bank said earlier this week.

The profit improved the indicators of banks' profitability in relation to the end of 2021, with the return on assets increasing from 1.2 to 1.25% at the end of March and the return on equity from 8.8 to 9.5%.

All 23 banks operated at a profit. The highest profit was generated by Zagrebačka Banka (HRK 618 million), followed by Erste (HRK 279.4m) and Privredna Banka Zagreb (HRK 227.5m).

In Q1 2022, credit institutions' assets totalled HRK 506.2 billion, up 1.1% from the end of 2021.

Zagrebačka Banka had the highest assets at the end of March (HRK134.3 billion, up 1.41% from the end of 2021), followed by Privredna Banka Zagreb (HRK 107bn, up 2.14%) and Erste (HRK 86.9bn, up 5%).

The key indicators of the banking system's capitalisation in Q1 2022 remained high. The system's total capital rate dropped to 25.6 from 25.9% at the end of 2011. All credit institutions had a higher total capital rate than the required 8% minimum.

(€1 = HRK 7.5)

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