In the first nine months of 2019, banks in Croatia made HRK 5.31 billion in profits before tax, HRK 66.99 million more on the year, the central bank said on Friday.

The data refers to 20 banks, three less than at the end of September 2018. Only one bank of the 20 posted a loss (HRK 27.7mn), Croatia Banka, whereas in the first nine months of 2018, six of the 23 banks posted losses totalling HRK 52.5 million.

The highest gross profit this year was again posted by Zagrebacka Banka (HRK 1.54bn), down 11.7% on the first nine months of 2018.

Privredna Banka Zagreb was second with HRK 1.39 billion in profit before tax, up 23.5% on the year. Erste & Steiermaerkische Bank was third with HRK 758.26 million, HRK 146.7 million less than in the first nine months of 2018.

OTP Banka Hrvatska was fourth with HRK 634.24 million in profit before tax in the first nine months of 2019, as against HRK 228.9 million in the first nine months of 2018, also owing to the fact that it acquired Splitska Banka at the end of last year.

Raiffeisenbank Austria was fifth with HRK 382.86 million in profit before tax, HRK 46.6 million less on the year.

Sixth was the largest state-owned bank, HPB, with HRK 201.11 million, HRK 50.5 million more than in the first nine months of 2018.

Four housing savings banks generated HRK 20.31 million in gross profits in the first nine months of 2019, HRK 1.4 million more on the year.

(€1 = HRK 7.4)