The director of the Croatian Banking Association (HUB), Zoran Bohacek, said on Tuesday the banking system in Croatia was very safe and stable and that no panic or deposit withdrawal was necessary.
"The banking system in Croatia is very safe and very stable. We know that Croatian banks have the necessary capital adequacy rate which is twice that in the EU," Bohacek told reporters after a ceremony marking the 10th anniversary of the Croatian Diplomatic Club (HDK).
Bohacek said that the crisis in the eurozone should not have any consequences for the Croatian banking system.
Asked to comment on the case of Credo Banka from Split whose operating licence has been revoked and which is undergoing forced liquidation, Bohacek said that illegal activities had obviously happened there. He said the clients of Credo Banka or any other bank in Croatia were insured to up to HRK 400,000, which should put their minds at ease.
Asked about other banks which the Croatian National Bank (HNB) is currently monitoring, Bohacek said none of those banks had liquidity problems, adding that their capital adequacy rate was lower than other banks' capital adequacy.
According to the HNB, the average capital adequacy rate of Croatian banks in late September was 19.42 percent.
