2.5 TIMES HIGHER AMOUNT APPROVED TO SMEs
HBOR published today its semi-annual financial statements for 2016. In the reporting period, HBOR generated total income in the amount of HRK 445.7 million, expenses in the amount of HRK 338.5 million and profit in the amount of HRK 107.2 million.
In the first six months of 2016, HBOR supported 1,689 projects of Croatian business entities with the total amount of HRK 5.7 billion through lending, insurance of export receivables and issue of bank guarantees.
In the reporting period, HBOR approved 1,588 loans in the total amount of HRK 4.2 billion, of which 73 percent related to financing of investments. The majority of HBOR’s loan beneficiaries were small and medium-sized enterprises that were approved the total amount of HRK 3.2 billion, which is 2.5 times higher than the amount approved to these entities in the same period previous year. Such large number of supported projects is the result of new measures by which the cooperation with leasing companies and commercial banks has been enhanced, all with the purpose of easier access to favourable loan funds for entrepreneurs.
In this period, investments in the tourism sector were supported in the amount of HRK 834.7 million, which is an increase of almost 50 percent compared to the same period previous year.
In the first six months of 2016, HBOR supported Croatian exporters with the amount of HRK 3.2 billion through lending, insurance and issue of bank export guarantees, the amount of which in the reporting period exceeded HRK 1 billion.
Through export credit insurance transactions implemented by HBOR for and on behalf of the Republic of Croatia, in the first half of 2016, new export transactions were insured in the total amount of HRK 633.57 million, an increase of 12.4 percent compared to the same period previous year.
In the period under review, the greatest demand for the insurance of export receivables related to the markets of the Netherlands, Serbia, Armenia, Bosnia and Herzegovina, Algeria and the Russian Federation.
In the first six months of 2016, HBOR supported 1,689 projects of Croatian business entities with the total amount of HRK 5.7 billion through lending, insurance of export receivables and issue of bank guarantees.
In the reporting period, HBOR approved 1,588 loans in the total amount of HRK 4.2 billion, of which 73 percent related to financing of investments. The majority of HBOR’s loan beneficiaries were small and medium-sized enterprises that were approved the total amount of HRK 3.2 billion, which is 2.5 times higher than the amount approved to these entities in the same period previous year. Such large number of supported projects is the result of new measures by which the cooperation with leasing companies and commercial banks has been enhanced, all with the purpose of easier access to favourable loan funds for entrepreneurs.
In this period, investments in the tourism sector were supported in the amount of HRK 834.7 million, which is an increase of almost 50 percent compared to the same period previous year.
In the first six months of 2016, HBOR supported Croatian exporters with the amount of HRK 3.2 billion through lending, insurance and issue of bank export guarantees, the amount of which in the reporting period exceeded HRK 1 billion.
Through export credit insurance transactions implemented by HBOR for and on behalf of the Republic of Croatia, in the first half of 2016, new export transactions were insured in the total amount of HRK 633.57 million, an increase of 12.4 percent compared to the same period previous year.
In the period under review, the greatest demand for the insurance of export receivables related to the markets of the Netherlands, Serbia, Armenia, Bosnia and Herzegovina, Algeria and the Russian Federation.