The private banking sector in Croatia in 2020 netted a total profit of 2.7 billion kuna (€356 million), or 53 percent down from 2019, the central bank HNB said on Monday.

Profitability indicators also decreased, with the average Return on Assets (ROA) dropping to 0.6 percent in 2020 from 1.4 percent in 2019, while the Return on Equity (ROE) fell to 4.4 percent from 9.8 percent in 2019.

At the end of 2020, all credit institutions had a total capital ratio that was above the HNB-prescribed minimum of 8 percent, while the banking system’s total capital ratio was 24.9 percent, HNB analysts said in a press release.

According to provisional unconsolidated data, last year the total value of banks’ assets was 462 billion kuna (€61 billion)  or 7.3 percent up from 2019. The assets of most credit institutions have increased, with liquid assets growing the most, which includes deposits with the central bank and loans issued, HNB said.

(€1 = 7.57 kuna)