In the first half of 2019, banks in Croatia reported pre-tax profits in the amount of HRK 3.8 billion, which is HRK 347.9 million (10 percent) more than in the same period of 2018, show the latest figures from the Croatian National Bank (HNB).

The data refer to a total of 20 banks operating on 30 June this year, which was three fewer than at the end of June 2018.

The down-sizing has been actually the result of mergers: in October 2018, Veneto Bank was added to Privredna Banka Zagreb (PBZ), in December 2018, Splitska Banka to OTP and this April, Jadranska Banka was taken over by the Croatian Postal Bank (HPB).

The total assets of these 20 commercial lenders came to HRK 411.9 billion in the first half of 2019, down by 1.35 percent on the year.

In terms of volume of gross profit in H1 2019, the top three banks were Zagrebacka Banka (ZABA) with HRK 1.3 billion which was up by 29.5 percent, and was followed by PBZ (HRK 850.9 million, up 15.4 percent), and OTP (417.8 million).

Of major banks, only Erste&Steiermaerkische Bank had a decline from HRK 622.1 in H1 2018 to 403.2 million.

The state-owned HPB recorded a rise of 32.6 percent to HRK 153 million in pre-tax profit in H1 2019.

(EUR 1 = HRK 7.39)