In the first half of the year, banks sold nearly five billion kuna of so-called bad loans, amounting to 1.1 billion kuna, according to the latest data from the Croatian National Bank. This accounts for almost one-fifth of the total value. Considering that banks sold nearly six billion kuna in the entire previous year, it is easy to conclude that they have already sold 80 percent of the claims in this part of the year.
>>> Zaba Sold 3.3 Billion Kuna of ‘Bad’ Loans to APS
The ‘most responsible’ bank for this surge in sales in the second quarter is Zagrebačka, led by Miljenko Živaljić, which sold 3.23 billion kuna of bad claims to the company APD Delta in May. Although the price of that transaction was not disclosed at the time, comparing the first and second quarters, it can be assumed that Zaba sold the loans for 300 to 350 million kuna. Otherwise, three-quarters of the sold bad loans were placements to commercial companies.
