July the 3st, 2022 - Hrvatska Postanska Banka has been pushed forward significantly on the market owing to its organic growth and the excellent business being done, not to mention a new acquisition.
As Poslovni Dnevnik writes, during the first six months of 2022, Hrvatska Postanska Banka achieved strong growth in terms of the wider HPB Group's assets and the acquisition of Nova Hrvatska Banka (New Croatian Bank), which is now successfully operating. All of the above has significantly strengthened its overall market position.
After a record 2021, a ten digit net profit of 1.066 billion kuna was realised at a consolidated level as a result of income due to acquisition activities and profit creation at the bank's level. A significant increase in property of 7.7 billion kuna indicates a strong step towards the entry of HPB into the top five banks per total assets on the entire Croatian market.
The main factors of the record positive results of the wider Hrvatska Postanska Banka Group in the first six months of 2022, in addition to the effects of acquisition activities, were the profits made from business even in these dire circumstances of growing inflation and the cost of adjusting business for the introduction of the euro in 2023. Hrvatska Postanska Banka successfully annulled the unfavourable effects of the drop in the price of bonds caused by the announcement of a change in monetary policy to restrain inflation and continued to implement the multitude of strategic projects of the HPB Group.
Back on March the 1st, 2022, the Hrvatska Postanska Banka took over Sberbank d.d., now called Nova Hrvatska Banka, which enabled it to stabilise its business, in that it also secured the preservation of its property and the property of its clients.
A significant increase in the Hrvatska Postanska Banka deposit and the stabilisation of Nova Hrvatska Banka's business, after them having taken it over, contributed to a much more favourable liquidity position and the strengthening of the potential to continue the realisation of a planned market share. The complementary and quality credit portfolio of Nova Hrvatska Banka has also further strengthened the stable and growing credit portfolio of HPB in almost all possible segments.
In addition to the record low level of the stake in unchanging loans, the activities of the diversification and increase in the quality of the bank's card products are reflected in the growth of total revenue from 7.7% fees that have mitigated the drop of net interest income of 6.0% (unconsoilidated) provided by a competent environment.
Thanks to cooperation with a strategic partner, Croatian Post (Hrvatska posta), Hrvatska Postanska Banka has continued to increase the availability of its financial services to different segments of clients even in the smallest and most remote rural locations that have a post office available.
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