Croat trade unions oppose planned sale of lender HPB and Croatia Osiguranje.

By bne IntelliNews February 10, 2012
The Croatian Independent Trade Unions (NHS) have opposed the government's plan to privatise Hrvatska Postanska Banka (HPB) and insurer Croatia Osiguranje this year via sending a letter to Prime Minister Zoran Milanovic, news agency HINA reported. NHS has called for a public debate on the planned privatisations. It said that HPB, which holds some 4% share of the local banking industry, has been recapitalised, has overcome the crisis and its capital is above the minimum required. Croatia Osiguranje has as well a good market share and a stable profit. The insurer could be recapitalised through its retained profit if needed, NHS said. A day earlier, the government said it expects to collect about HRK 2bn (EUR 264mn) in privatisation revenue this year via selling HPB, Croatia Osiguranje, and some smaller state assets.

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