October 1 (SeeNews) -
Croatian banks will to have to invest up to 100 million euro ($116 million) in the next one year to adapt their IT systems for euro adoption, the head of the association of Croatian banks Zdenko Adrovic said.
“We are faced with a number of challenges, particularly in the next one year. One of the biggest challenges which the banks have to overcome is the process of adaptation of their IT systems to adopt euro as official currency," Adrovic said during a financial market conference in Opatija on Thursday.
"The estimated investments by the banks in this regard range between 80 million euro and 100 million euro,” he added.
Excerpts from his statement at the conference are published on the website of the central bank.
The Adriatic country hopes to be technically ready to switch to the euro currency as of January 1, 2023.
($=0.861 euro)