Awards for excellence - Croatia
Privredna Banka Zagreb
Best debt houses:
Best equity house:
Best M&A house:
Croatia's second largest bank, Privredna Banka Zagreb, has changed under chief executive Bozo Prka from a rather inflexible state-owned institution to become the most dynamic bank in the country.
Since its sale to Banca Commerciale Italiana - now IntesaBci - at the beginning of 2000, Privredna has developed individual business lines and introduced advanced risk management tools and modern corporate governance methods such as internal audit. Apart from that it has also spectacularly increased its ROE, from 10.9% in 1999 to 17.53% in 2000.
Originally Privredna was set up as the investment bank of Yugoslavia. It had changed direction toward the retail sector in 1998 and plans to have a portfolio split 50:50 between retail and corporate loans by 2003.