HPB’s Three Percent Interest Rates Attract Significant Public Interest, One Billion Euros in Savings Deposits Collected

Croatian Postal Bank has, in a period of less than three months, from October 2023 to today, collected as much as one billion euros in citizens’ savings deposits through the offer of the new product HPB super savings, as stated in the announcement.

As a product with the most attractive interest rates on the banking market reaching three percent for one-year deposits, HPB super savings has attracted exceptional public interest and has proven to be an absolute hit in the market with 30,000 concluded deposit contracts. Inflows of new deposits account for over 60 percent of the volume of this product.

At the same time, the offer of HPB super savings has minimized the outflow of funds during the issuance of treasury bills, thereby achieving the Bank’s goal of retaining clients, HPB adds.

– This savings product has enabled the growth of Croatian Postal Bank’s market share, and provided its clients with the protection of the value of their funds, thus HPB has made a significant contribution to the fight against inflation in Croatia. The success of HPB super savings also represents a lever for the development and offering of similar products in the future. Given that all goals of HPB super savings have been achieved and in accordance with the expected monetary policy and market developments in the coming year, in order for the Bank to continue supporting the citizens of Croatia in the fight against inflation, this product will be discontinued from the Bank’s deposit offer as of January 1, 2024, and along with the existing/valid offer of non-purpose term deposits in the domestic currency, a new HPB super savings 2 will be introduced on January 2, 2024, for terms of six and twelve months with new interest rates – they announce at HPB.

For HPB clients who are individuals with regular income in the Bank’s transaction account and individual clients who are owners of business entities operating through accounts in the Bank, deposits with a term of six months will be granted an interest rate of three percent per annum, and for a term of 12 months, an interest rate of 2.3 percent per annum.

For individual clients without regular income in the Bank’s transaction account and individual clients who are owners of business entities not operating through accounts in the Bank, for a term of six months, an interest rate of 2.7 percent per annum will be granted, and for a term of 12 months, an interest rate of two percent per annum.

– Croatian Postal Bank has been the fastest-growing bank in Croatia over the past four years, doubling the value of its assets, while the Bank’s market capitalization has tripled, with HPB shares outperforming all relevant benchmark indices. Following the legal merger of the former New Croatian Bank, operational integration is also underway, which should be completed by mid-2024, when a large part of the internal resources engaged in that project will be maximally dedicated to the development activities that are being prepared in parallel – they add from HPB.