Foreign Banks Withdraw Funds from Croatia

Businessn.a. ♦ Published: October 24, 2012; 20:27 ♦ (Vindobona)

Due to the difficult economic situation in Croatia, foreign banks reduce their exposure in Croatia.

Foreign Banks Withdraw Funds from Croatia / Picture: © Vindobona.org

The Croatian banking market is clearly dominated by foreign banks. About 95% of the banks are owned by foreign companies. In the first eight months of 2012, foreign banks withdrew funds of about € 132,2m, the Croatian National Bank (HNB) says. Last year, there was no capital outflow. Although the size of the capital outflow is not concerning, HNB has already begun to talk with foreign…