The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

A fierce race for small-scale victories

The Croatian banking market is small and the experience of foreign investors in it has so far not been entirely happy. Nevertheless some foreign banks – notably from Austria, Germany and Italy – see it as crucial to their growth and a core part of their regional strategy.

       
Supetar: progress is expected in the
privatization of Adriatic tourism assets

One man's trash is another man's treasure. The old adage is as true in banking as anywhere, and seldom more so than in the case of Croatia's Rijecka banka.


Earlier this spring, Bayerische Landesbank Girozentrale handed back its almost 60% stake in Croatia's third-largest lender to the Croatian government for a nominal sum after discovering that a rogue foreign exchange trader had left a near $100 million hole in the bank. After two years and an investment of tens of millions of euros, executives of Germany's second-largest state-owned bank decided to beat a hasty retreat from the Croatian market.


BayernLB's decision to cut and run left some wondering about the magnitude of the problems at Rijecka - and in the parent bank's home market - but the scandal and its aftermath failed to dampen the interest of other potential investors.



You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree