Analysis of lending and deposit interest rates in Croatian banks

Osnovni cilj ovog rada je ispitati i analizirati kretanja aktivnih i pasivnih kamatnih stopa u Hrvatskoj. Zadatak je detektirati i obraditi odrednice i pokazatelje vezane uz praćenje kamatnih stopa. Korištenjem sekundarnih podataka generiranih iz dosadašnjih istraživanja tema od strane drugih autora te nadležnih institucija, steći će se uvid u trenutnu situaciju, kao i u prijašnja kretanja i trendove. Za potrebe rada korištena je stručna relevantna literatura. U ovom radu prikazani su pojam i vrste kamatnih stopa, njihova uloga u financijskom i realnom sektoru ekonomije te su grafički prikazana njihova kretanja s obzirom na različite valute kreditnih plasmana (s valutnom klauzulom, bez valutne klauzule i devizni), s obzirom na ročnost (kratkoročne i dugoročne) te prema vrsti plasmana (kućanstvima i nefinancijskim poduzećima). Rad također povezuje aktivne i pasivne kamatne stope sa čimbenicima koji utječu na kamatne stope: monetarnom politikom, tržišnim okolnostima i makroekonomskim uvjetima, kako bi se dobio uvid u to koje varijable imaju najveće povezanosti s kamatnim stopama u Hrvatskoj. Nakon provedene analize prikazani su kamatni spreadovi te je izvršena međunarodna usporedba s odabranim zemljama Europske unije. U zaključku su istaknuta završna saznanja koja proizlaze iz rada.The main objective of this paper is to examine and analyze the movements of lending and deposit interest rates in Croatia. The task is to detect determinants and variables related to interest rate monitoring. By using secondary data generated from previous research articles based on relevant topics conducted by other authors and institutions this paper delivers more detailed insight into the current situation of interest rates fluctuations, as well as previous trends and tendencies. This paper presents the term and types of interest rates, their role in the financial sector and real sector of the economy. Furthermore, paper graphically depicts their movements with regard to different types of currency placements (kuna indexed, kuna and foreign currency credit), with regard to maturity (short-term and long-term) and with regard to type of placements (households, non-financial corporation). The paper also shows relationship of lending and deposit interest rates with the factors affecting interest rates: monetary policy, market conditions and macroeconomic conditions to gain an insight into what variables show the highest correlation with interest rates in Croatia. Following the analysis, interest rate spreads are presented as well as the comparison of international interest rates using data of the selected member countries of the European Union. In conclusion, based on the secondary data derived from the professional literature and from the results and indicators, the final findings are highlighted that arise from the work