Fitch affirms support rating to 3 Croatian banks.

By bne IntelliNews July 20, 2010
Fitch ratings affirmed support rating 2 to Privredna Banka Zagreb, Erste&Steiermarkische Bank and Societe Generale - Splitska Banka based on the institutional support of the banks' shareholders who have a strategic interest in the region, the rating agency said in a statement. The banks' support ratings are constrained by Croatia's country ceiling of BBB+. Fitch's forecast that the country's GDP will contract by 0.5% in 2010, thus having a negative effect on the domestic banking sector. Fitch reminded that the Croatian banks experienced significant deterioration of asset quality, profitability and growth last year and the number of non-performing loans will probably increase throughout 2010.

Related Articles

Croatian govt to acquire four companies part of 3.Maj shipyard.

The Croatian government decided on Thursday, March 21, to take over the ownership of all four companies part of local shipyard 3.Maj after which the privatisation of the parent company will be ... more

Croatias Dukat to make takeover bid for Slovenias Ljubljanske Mlekarne.

Croatian dairy producer Dukat said it intends to place a takeover bid for the 49.7% stake it does not yet own in Slovenian peer Ljubljanske Mlekarne. Dukats current stake of 50.3% in the ... more

Croatia's construction output down 2.1% y/y in Jan 2013.

Croatia's construction output fell 2.1% on the year in January 2013 after dropping an annual 19.9% a month earlier, the statistics office said, quoting unadjusted data. Working-day adjusted data, ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335