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Croatian lender HPB to retain 2019 net profit in line with c-bank order

Author Iskra Pavlova
Croatian lender HPB to retain 2019 net profit in line with c-bank order Photo: Hrvatska Postanska Banka (HPB)

ZAGREB (Croatia), March 26 (SeeNews) - Croatian state-controlled lender Hrvatska Postanska Banka (HPB) [ZSE:HPB] said on Thursday it will retain its 138.8 million kuna ($20 million/18 million euro) reported for 2019, in line with a recent resolution of the country's central bank.

"Competent bodies of the Bank will therefore issue necessary decisions in line with the Resolution," HPB said in a brief statement with the Zagreb bourse.

On Friday, the central bank said it has barred local lenders from distributing dividend and other remuneration for last year, as part of broader measures aimed to ensure that the liquidity of the banking system will support the domestic economy amidst the ongoing coronavirus crisis.

The central bank has said it believes that banks should contribute to the efforts for alleviating the social and economic consequences of the coronavirus pandemic.

Last year, HPB also retained its 151.6 million kuna net profit reported for 2018.

HPB was Croatia's sixth largest bank by assets at the end of September, according to the latest central bank data available.

Its shares traded up 2.96% at 418 kuna by 11:45 CET on Thursday on the Zagreb bourse.

(1 euro = 7.60620 kuna)