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Sector
Financials
Size
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Market Cap £7.38bn
Enterprise Value £4.45bn
Revenue £7.53bn
Position in Universe 115th / 1039

Croatian banks clear ECB's test in euro accession prerequisite

Fri 5th June, 2020 6:01pm
FRANKFURT, June 5 (Reuters) - No major Croatian bank would
face capital shortfall even in case of stress, the European
Central Bank said on Friday, giving a boost to Zagreb's hopes of
joining the euro in the coming years. 
    The ECB's asset quality review and stress test are key
requirements before Croatia can join Europe's banking union and
enter a mandatory two-year waiting room to adopt the euro.
    As part of its assessment, the ECB examined five banks,
including Zagrebačka banka  ZBB.ZA , Privredna banka Zagreb
 PBZ.ZA , Erste  ERST.VI  unit Erste & Steiermärkische Bank, OTP
Bank  OTPB.BU  subsidiary OTP banka Hrvatska and Hrvatska
poštanska banka.
    Croatia has not committed any particular timeline but hopes
to become a euro zone member in 2023 or 2024.
    
    

 (Reporting by Balazs Koranyi, Editing by Franklin Paul)
 ((Balazs.Koranyi@thomsonreuters.com; +49 69 7565 1244; Reuters
Messaging: balazs.koranyi.thomsonreuters.com@reuters.net))
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