STATE AGENCY FOR DEPOSIT INSURANCE AND BANK RESOLUTION

HRV | ENG
 

STABLE AND SAFE SYSTEM

All credit institutions registered in the Republic of Croatia participate in the deposit insurance system. The goal of the deposit insurance system is protection of citizens (natural persons), small entrepreneurs and non-profit organisations. Namely, in the event of credit institution bankruptcy, the abovementioned depositors do not have to wait for the end of a long-term bankruptcy proceedings, but receive their deposit compensation from the Agency and the Agency claims reimbursements during bankruptcy proceedings instead of them.

Deposit Insurance Fund

In order to enable the depositors to reach their deposits caught in a bankrupt credit institution as soon as possible, the Deposit Insurance Fund was established in 1997. The first resources in the Fund were paid by the Republic of Croatia, and afterwards the law prescribed the collection of resources for the Fund on an ex ante basis by the credit institutions, that are required to pay the deposit insurance premium on a quarterly basis. All credit institutions registered in the Republic of Croatia are required by law to pay the premium, which is equal for all institutions and calculated at a premium rate of 0.08. The Agency maintains the Deposit Insurance Fund, using its resources for compensating the depositors in the event of credit institution bankruptcy.

The total amount of insured deposits of citizens (natural persons), small entrepreneurs and non-profit organisations in the Republic of Croatia is some 160 billion kuna. The Deposit Insurance act prescribes the required level of the Fund resources as an amount equalling 2.5% of total insured deposits. Should none of the credit institutions go bankrupt by the end of 2017, the Agency is expected to reach the required level of resources.

Confirmed efficiency

Over the past twenty years, the Agency has promptly and effectively paid out more than 4.8 billion kuna to 200,000 depositors for their insured deposits due to bankruptcy of 27 banks and savings banks. The most recent case of ensured deposits payout pertains to deposit holders of Centar banka, who have been paid 525 million kuna of insured deposits. The high efficiency level of the Agency was demonstrated in the recent two cases, when the Agency began paying the compensations to depositors within 7 to 10 working days after the bankruptcy of a credit institution, even though the law required a deadline of 20 to 30 working days to be met. During the first two months only, the Agency paid more than 80% of the insured deposits in a manner that entire compensations were paid to depositors immediately after they submitted their Requests.

Depositors paid out since the establishment of the Agency

 CREDIT INSTITUTIONCOMPENSATIONS
​IN HRK
NUMBER OF
DEPOSITORS
1Vukovarska banka d.d. Vukovar26.628.20213.101
2Građanska štedionica d.o.o. Zagreb30.224.221946
3Ilirija banka d.d. Zagreb36.173.4321.780
4Komercijalna banka d.d. Zagreb65.259.9318.958
5Glumina banka d.d. Zagreb1.353.000.00024.002
6Županjska banka d.d. Županja599.833.14642.688
7Gradska banka d.d. Osijek919.202.81235.875
8Neretvansko gospodarska banka d.d. Ploče27.674.2695.635
9Invest štedionica d.o.o. Zagreb13.845.545201
10Promdei banka d.d. Zagreb8.439.770207
11Hrvatska gospodarska banka d.d. Zagreb225.711.13325.255
12Agroobrtnička banka d.d. Zagreb125.270.71914.613
13Trgovačko-turistička banka d.d. Split21.738.8901.419
14Adria štedionica d.o.o. Zagreb1.865.76931
15Dugi pogled štedionica d.o.o. Zagreb8.327.63699
16Grošbanak štedionica d.o.o. Zagreb12.752.583320
17Štedionica za razvoj i obnovu d.o.o Zagreb87.806.5954.624
18Razvojna banka Dalmacija d.o.o. Split12.275.73697
19Gold štedionica d.o.o Split3.301.761343
20Mediteran štedionica d.o.o. Split20.449.916421
21Alpe Jadran banka d.d. Split28.238.7891.846
22Kaptol banka d.d. Zagreb15.072.976411
23Slavonska štedionica d.d. Zagreb19.037.597304
24Gospodarska štedionica d.d. Vrbovec10.039.607166
25Međimurska štedionica d.d. Čakovec160.509.4594.366
26Credo banka d.d. Split471.330.58812.958
27Centar banka d.d. Zagreb525.192.4597.126
28Nava banka d.d. Zagreb156.549.9771.197
 UKUPNO4.985.753.784208.989

The Agency has already reached most of the goals set by the EU Directive for 2023 and it performs its function in accordance with the basic principles of International Association of Deposit Insurers (IADI).

The main features of deposit insurance systems in EU member states

 

Financing ModelEU Member States
Ex-ante  (NEW DGS*)HR, BG, EE, FI, LV, LT, NL, DE, PT, CZ, SK, ES, SE, BE
Ex-postAT, IT, SI, LU
MješovitiCY, DK, FR, EL, IE, HU, MT, PL, RO, UK
Deposit Insurance LimitEU Member States
EUR 100.000 (NEW DGS*)HR, BG, EE, FI, LV, LT, LU, NL, DE, PT, CZ, SK, ES, SE, AT,BE, IT, SI, CY, DK,
FR, EL, IE, HU, MT, PL, RO, UK
PremiumEU Member States
Risk based premiums (NEW DGS*)FI, FR, EL, IT, HU, NL, DE, PT, RO, SE
Equal premiums for all banksHR, AT, BE, BG, CY, DK, EE, IE, LT, LV, LU, MT, PL, CZ, SK, SI, ES, UK 
Payout DeadlineEU Member States
15 days since Jan 1, 2019,
10 days since Jan 1, 2021,
7 days since Jan 1, 2024
(NEW DGS*)
 
20 working daysHR, BG, EE, FI, LV, LT, LU, NL, DE, PT, CZ, SK, ES, SE, AT,BE, IT,
SI, CY, DK, FR, EL, IE, HU, MT, PL, RO, UK
Required Level of Insurance Fund Resources**EU Member States
0,8%  (NEW DGS*) 
2,50%HR
> 2,5% EE, LT, BG
1 % - 2,5% FI, ES, RO
< 1%IE
neprimjenjivoLV, NL, DE, PT, CZ, SK, SE, BE ,CY,  DK, FR, EL, HY, MT, PL, UK

* DGS = Deposit Guarantee Schemes (EU directive)
** Member states using the ex-post financing model are not included (AT,IT,SI,LU)

Member states: Belgium (BE), Bulgaria (BG), Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia (EE), Ireland (IE), Greece (EL), Spain (ES), France (FR), Croatia (HR), Italy (IT), Cyprus (CY), Latvia (LV), Lithuania (LT), Luxembourg (LU), Hungary (HU), Malta(MT), Netherlands (NL), Austria (AT), Poland (PL), Portugal (PT), Romania (RO), Slovenia (SI), Slovakia (SK), Finland (FI), Sweden (SE), United Kingdom (UK)