BANKING IN CROATIA

Hrvatsko bankarstvo i hrvatski bankarski sustav su zadnjih dvadeset godina doživjeli mnoge promjene: promijenili su se propisi, tržišta, karakteristike klijenata te obujam poslovanja, no usprkos tim brojnim promjenama, temelj bankarskog poslovanja nije se promijenio. U dvadesetogodišnjem razdoblju tranzicije, hrvatski bankovni sustav je restrukturiran, rekapitaliziran i privatiziran. Na samom zakonskom uređenju sustava i na njegovom operativnom osposobljavanju je postignut značajan napredak, no sam proces je trajao duže nego što se to očekivalo, a to je iziskivalo i veće troškove. Neki od najvažnijih razloga spore pretvorbe bili su naslijeđeni problemi iz prethodnog razdoblja koji se se jasno pokazali tek u zaoštrenim tržišnim uvjetima, sporo restrukturiranje i neodgovarajući model privatizacije, problemi u socijalnom i ekonomskom okruženju, nepotpuna regulacija, slabosti u upravljanju bankama te rat i ratne štete komitenta banaka. Upravo zbog navedenih razloga, razdoblje tranzicije u Republici Hrvatskoj je bilo obilježeno bankovnim krizama, rehabilitacijom i restrukturiranjem banaka uz visoke državne, ali i privatne troškove. Međutim, danas je situacija ipak znatno drugačija, čak u tolikoj mjeri da se struktura bankarskog sustava u Republici Hrvatskoj može slobodno usporediti s prosječnom strukturom kreditnih institucija u zemljama Europske unije. Cilj izrade ovog rada je prikazivanje razumijevanja uloge bankarskog sustava općenito, kao i važnost tog sustava za Republiku Hrvatsku. Važno je također i objasniti samu strukturu bankovnog sustava, najznačajnije organe banaka te najvažnije poslove banaka u Republici Hrvatskoj, kao i dati prikaz razvoja bankarskog sustava od 1990 – tih godina pa sve do danas,. Kao cilj rada nameće se i potreba analize vodećih banaka u Republici Hrvatskoj kao što su Zagrebačka banka, Hrvatska narodna banka, koja je ujedno i središnja banka, te Hrvatska banka za obnovu i razvitak.Croatian banking system as well as banking business in Croatia have changed significantly over the past twenty years. There has been a major development in regulation, market structure, clients characteristics and the sole volume of the bussines. Despite these changes the core of the banking bussines did not change. Last 20 years were marked by the economical transition in which Croatian banking system has been restructured, recapitalised and privatised. There has been a significant improvement in legislative regulation of the sector as well as in increasing of its operational capabillities. Unfortunately, this process has lasted longer then expected resulting in higher costs then it was originally predicted. Some of the reasons for slow progress in aforementioned economical transition can be found in previous economy system defined by its political system where there was no real market regulations defined by supply and offer. Further reasons can be found in slow pace of restructuring, inadequate privatization model, problematical social and economic surroundings, insufficient legislative regulation, poor management of the Banks, but also in war conditions and war damages which bank clients have endured. Due to the all aforementioned reasons the economic transition period was marked by the Bank crises which was followed by rehabilitation and restructuring of the Banks which involved high public but also private costs. However, it can be said that present situation in the sector is quite different; today Croatian banking system can be compared with the average banking systems of the European Union countries. Purpose of this thesis is to show the role of the banking system in economy in general, but also to emphasis the importance of the banking system inCroatian economy. Therefore, in this thesis the following will be presented: the structure of the banking system, the most important bank organs and the most important functions that banks have in the present economy of Croatia. Also, an historic development of the banking system in Croatia, beginnig from 1990's up to the present will be presented. Finally, the most important banking institutions such are Zagrebačka banka d.d., Croatian National Bank (which is Central bank of the Republic of Croatia) and the Croatioan Bank for Reconstruction and Development will be analysed