Croatian Bank for Reconstruction and Development

Croatian Bank for Reconstruction and Development, Croatia

Croatian Bank for Reconstruction and Development

Established in 1992, HBOR supports systematic, sustainable and even economic and social development of the Croatian economy. In its activities HBOR pursues the strategic goals of the Republic of Croatia, promotes environmental protection, covers market gaps and acts as market developer in underserved niches. HBOR is 100% state-owned. The Republic of Croatia guarantees for the obligations of HBOR unconditionally, irrevocably and at first demand, without issuing a separate guarantee instrument.

Within the Croatian banking system, HBOR has a threefold role:

  • HBOR as the national development bank;
  • HBOR as an export bank;
  • HBOR as an export credit agency.

the national development bank

HBOR pays special attention to the establishment and development of small and medium-sized entrepreneurship as the main driving force of the development of each modern economy. Favourable terms and conditions of finance provided for the growth and development of SMEs make this sector the one with the highest lending volume. Throughout its loan programmes HBOR promotes agriculture development, the implementation of new technologies and innovations, investments in the tourism sector, but also the utilisation of available EU funds.

HBOR is very active in the field of infrastructure development and particularly in the field of promotion of environmental protection, the use of renewable energies resources and enhancing investments in energy efficiency projects.

the export bank

As an export bank, HBOR has developed a number of programmes intended for exporters with the objective of enabling their equal competition in the international market. Through its programmes, HBOR provides support to exporters in all stages of an export transaction, starting from negotiations on an export transaction to the final payment of an export transaction.

the export credit agency

As the Croatian export credit agency, HBOR introduced a number of export credit insurance instruments enabling entrepreneurs-exporters to reduce and share risks. Beside the programmes intended for exporters, HBOR offers the possibility of export credit insurance to commercial banks and financial institutions.

HBOR is the owner of Hrvatsko kreditno osiguranje (HKO) (Croatian Credit Insurance J.S.C.), a company that is specialised in the insurance of short-term receivables (up to 1 year) related to the selling of goods and services in Croatia and abroad.

Financial indicators

*in EUR million

31 December 2014 31 December 2015 31 December 2016
Total Equity 3.364,50 3.345,20 3.622,08
Total Assets 1.230,9 1.265,5 1.328,2

Rating: Standard&Poor's BB, Moody's Ba1

Number of employees (30 June 2017): 361


Ms. Marina Marasović – Managing Director – EU Funds and Financial Instruments

Strossmayerov trg 9
10000 Zagreb, Croatia
Tel: +385 1 4590 403
Fax: +385 1 4591 751
Croatian Bank for Reconstruction and Development