At a regular meeting with journalists at the Croatian Banking Association, its president Zoran Bohaček reiterated once again that the measures of the Central Bank are not an effective aid in stopping the growth of external debt, that they slow down economic growth, and that small and medium-sized enterprises suffer the most because of them.
For if the measures introduced at the end of last year limited the growth of placements to 12 percent, after which the governor stated that this is sufficient for an economic growth of six percent, then it is clear that this growth with a measure of growth of placements of only half a percent cannot be that significant anymore, Bohaček asserted, adding that the measures hinder the development of small and medium-sized enterprises, as large companies can borrow directly abroad, while small ones cannot.
Regarding the latest expanded measures for growth of placements of half a percent that also apply to companies that are ownership-related to banks, Bohaček could not yet provide a final stance, as, according to him, lawyers are still determining whether such a thing is legally possible, and he expects the Competition Protection Agency to also express its opinion on this matter. It has been reiterated, as previously stated, that foreign-owned banks could, due to the measures, be transformed into branches, which the draft of the new law on credit institutions allows. Related to ZOKI, HUB members have sent proposals on the law to the HNB, and they believe that the law should be shorter, as it contains many parts, for example, parts of the securities law, which still needs to be amended, or securitization, for which a special law is being developed. (Lidija Kiseljak)
