July 3, 2022 – Hrvatska poštanska banka made significant progress on the market thanks to organic growth and excellent operations, not to mention a new acquisition.
As Business Diary During the first six months of 2022, Hrvatska poštanska banka achieved strong growth in the broader assets of HPB Group and the acquisition of Nova Hrvatske banka (Nova Hrvatske banka), which is now operating successfully. All of the above significantly strengthened its overall market position.
After the record year 2021, a ten-digit net profit of HRK 1.066 billion was realized at the consolidated level as a result of income from acquisition activities and profit generation at the bank level. A significant increase in assets of HRK 7.7 billion indicates a strong step towards HPB’s entry into the top five banks in terms of total assets on the entire Croatian market.
The main factors of the record positive results of the broader Hrvatska poštanska banka Group in the first six months of 2022, along with the effects of acquisition activities, were the income generated from operations even in these difficult circumstances of rising inflation and costs, the adjustment of operations for the introduction of the euro in 2023. Hrvatska poštanska banka successfully canceled the unfavorable effects of the drop in bond prices caused by the announcement of a change in monetary policy to combat inflation and continued with the implementation of many strategic projects of the HPB Group.
As early as March 1, 2022, Hrvatska poštanska banka took over Sberbank dd, now Nova Hrvatska banka, thereby stabilizing its operations, i.e. ensuring the preservation of its assets and those of its clients.
The significant increase in deposits of Hrvatska poštanska banka and the stabilization of Nova Hrvatska banka’s operations, after its takeover, contributed to a significantly more favorable liquidity position and strengthening of the potential for continued realization of the planned market share. The complementary and high-quality loan portfolio of Nova Hrvatska banka additionally strengthened the stable and growing loan portfolio of HPB in almost all possible segments.
In addition to the record low level of the share in unchanged loans, the bank’s diversification and card product quality improvement activities are also reflected in the growth of total fee income of 7.7%, which mitigated the decline in net interest of 6.0% (unconsolidated) provided by the competent environment.
Thanks to the cooperation with its strategic partner, Hrvatska pošta, Hrvatska poštanska banka continued to increase the availability of its financial services to different segments of clients, even in the smallest and most remote rural places that have a post office.
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