The largest bank in Croatia, Zagrebacka Banka (Zaba) posted an after-tax profit of 1.56 billion kuna (€209 million) in 2019, down by 15.9 percent from the year before, according to the bank's unconsolidated and unaudited financial report released on Monday.

“A good operating result was achieved… The main revenues and spending categories remain stable, while the overall net profit was impacted by one-off spendings and provisions for court disputes,” the bank said in its report.

Zaba, which is owned by Italy’s UniCredit global financial services group, reported revenues of 4.21 billion kuna (€565 million) which is about 65 million (€8.7 million) or 1.5 percent down from 2018.

The bank’s total assets were reported at 117.63 billion kuna (€15.8 billion), up by 3.9 percent or 4.39 billion kuna (€589 million) from 2018.

Consolidated data for the Zagrebacka Banka Group, which includes a number of daughter companies specialising in various financial services, shows an after-tax profit of 1.76 billion kuna (€236 million) or 13.8 percent down year-on-year.

(€1 = 7.45 kuna)