Comparative analysis of non-bank deposit institutions in Austria and the Republic of Croatia

The goal of this paper is to determine differences in the level of development of non-bank deposit institutions in Austria and Republic of Croatia. This paper presents characteristics of financial systems of both countries, the role of financial institutions in those systems with special emphasis on non-bank deposit institutions. By doing the comparative analysis it was concluded that Austria has better-developed deposit institutions together with non-bank deposit institutions. In both countries commercial banks are very dominant, however in Austria, there is also a wider range of non-bank deposit institution and their performance is on a higher level unlike non-bank deposit institutions in the Republic of Croatia. These institutions in both countries in recent years have lower performance because universal banks started providing same financial services as non-bank deposit institutions. Currently, in both countries, these institutions are working on extending their business portfolio to be more competitive in the financial market