Solving Croatia's banking crisis

Solving Croatia’s banking crisis

Croatia has too many banks and most of them are poorly run. Bad debts are on the rise. Related lending has been widespread. The government has taken some banks under its wing and hopes to rehabilitate and privatize them. Yet fundamental reform of the sector is coming too slowly and in insufficient doses. Alex Mathias reports.

Knett:
long-term bull
on Croatia

In early July, Ibrahim Dedic, the founder of Croatia’s Promdei Bank, was shot to death outside his home. Originally from Bosnia, Dedic started his financial career trading foreign exchange on the streets. He then built up Promdei Bank and opened affiliates in Belgrade and Sarajevo. In Zagreb, he managed to acquire capital of Dm100 million ($55 million).

Dedic was notorious for his forceful approach to banking. “He showed very strong behaviour towards his clients,” says an analyst.

Solving Croatia’s banking crisis

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Solving Croatia’s banking crisis

Thanks for your interest in Euromoney!To unlock this article:

The world’s best private banks for digital

Rebuilding banks from the inside out in the digital age

Eastward bound: Why Gulf banks are tapping Asia’s capital markets

Islamic Finance Innovation 2025

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