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Our capital markets competence in Croatia

Our capital markets competence in Croatia

Erste Bank Croatia is the third largest bank in Croatia in terms of assets. Erste Bank Croatia’s capital markets clients profit from tailor-made solutions based on its broad knowledge and extensive experience in the capital markets business.

Erste Group in Croatia

Erste & Steiermärkische Bank d.d. - also known as Erste Bank Croatia - is the third largest bank in Croatia in terms of assets. It was formed following the successful integration of Riječka Banka d.d. and the former Erste & Steiermärkische Bank d.d., Zagreb, which in turn emerged from the combination of three successful regional banks: Bjelovarska, Trgovačka and Čakovečka. Today Erste Bank Croatia has some 0.8 million customers and 122 branches. It has an excellent position in the Croatian capital market. Underlining its position as one of the leading banks on the stock exchange, in 2005 and 2006 Erste Bank Croatia was the leading bond trader according to turnover. Erste Bank Croatia was a joint lead arranger and underwriter of all three government bond issues in 2007 with a nearly 19% market share and in 2008 that market share was increased to 35%. In 2007 the Bank was domestic lead manager in the largest IPO in CEE: the privatisation of T-Croatian Telecom when USD 1bn were raised and 360.000 Croatian citizen participated . Furthermore Erste Bank Croatia arranged several issues of corporate bonds and commercial papers. Also, in the secondary market, Erste Securities Zagreb was the no. 1 broker per equity turnover in 2007, while in 2008 was by far the leading brokerage house having a 13,5% market share, while the first competitor had 7,8%.

Capital markets business in Croatia

Erste Bank Croatia offers a wide range of treasury and capital markets products to corporate and institutional clients. Furthermore the bank offers structured products and different hedging strategies. As a client oriented bank Erste Bank Croatia's services correspond to clients' needs. It has developed a strong business relationship with its clients and with a sound understanding of their operations. Erste Bank Croatia's institutional and corporate clients profit from tailor-made solutions based on its broad knowledge and extensive experience in the capital markets business.

Market insight Croatia

In recent years economic performance has been driven by robust domestic demand and solid tourist sector performance. Expected lower capital inflows and high indebtedness levels do not support domestic demand recovery to pre-crisis levels, therefore growth rates in upcoming years are expected to remain well below pre-crisis levels. Croatia is in concluding phase of EU accession negotiations implying EU entry in 2012 or 2013 and providing some positive effect to the investments inflows and economy as whole. Exchange rate stability remains key priority to the central bank and while strong refinancing risks are suggesting some risks, large stock of FX reserves and shrinking C/A deficit have stabilizing role.

Branimir Britvić

Head of Capital Markets

Erste & Steiermaerkische Bank
Ivana Lučića 2
10000 Zagreb
Tel.: +385 (0)72 37 1050


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