Privredna banka Zagreb
Encyclopedia
Privredna banka Zagreb or PBZ is the second largest bank in Croatia
(after Zagrebačka banka
), owned by Intesa Sanpaolo
group of Italy. It is listed on the Zagreb Stock Exchange
and is one of 24 companies included in the CROBEX
share index.
PBZ was established in 1966 on the basis and the banking tradition of The First Croatian Savings Bank, itself established in 1846 in Zagreb by the members of the Farming Association of Croatia and Slavonia. It began its transformation into a publicly traded company in the 1990s, and it was privatised in December 1999 when Banca Commerciale Italiana
(BCI) acquired a 66.3 percent stake in it, with the Government of Croatia
reducing its stake to 25 percent. In 2000 BCI was merged into Banca Intesa
and in January 2007 Banca Intesa merged again with Sanpaolo IMI
to form the Intesa Sanpaolo
group, which currently includes PBZ.
Many notable Croatian economists worked at PBZ, including the current Governor of the Croatian National Bank
(HNB) Željko Rohatinski
(worked as bank's Chief Economist
1998–2000) and the former HNB Governor Marko Škreb
(appointed PBZ Chief Economist in September 2007). Božo Prka, the bank's CEO
since 1998, served as Finance Minister 1995–1997 under Prime Minister Zlatko Mateša
. Current Finance Minister Martina Dalić
worked as Chief Economist 2000-2004.
PBZ received numerous awards in recognition of its powerhouse status in Croatia and the region by industry journals such as Euromoney magazine
, Global Finance magazine
and The Banker
, and is also a three-time winner of the Croatian Chamber of Commerce "Golden Kuna" Award for Best Bank (2003, 2004 and 2009). Since 2006, Privredna banka Zagreb sponsors the annual PBZ Zagreb Indoors
tennis tournament which is part of the ATP 250 series
.
Croatia
Croatia , officially the Republic of Croatia , is a unitary democratic parliamentary republic in Europe at the crossroads of the Mitteleuropa, the Balkans, and the Mediterranean. Its capital and largest city is Zagreb. The country is divided into 20 counties and the city of Zagreb. Croatia covers ...
(after Zagrebačka banka
Zagrebacka banka
Zagrebačka banka or ZABA is the largest bank in Croatia, owned by UniCredit group of Italy. It was the first Croatian bank to become fully privatised in 1989 and the first one to be listed at the Zagreb Stock Exchange in 1995...
), owned by Intesa Sanpaolo
Intesa Sanpaolo
Intesa Sanpaolo is a banking group resulting from the merger between Banca Intesa and Sanpaolo IMI based in Turin, Italy. It has clear leadership in the Italian market and a minor but growing international presence focused on Central-Eastern Europe, the Middle East and North Africa Intesa Sanpaolo...
group of Italy. It is listed on the Zagreb Stock Exchange
Zagreb Stock Exchange
The Zagreb Stock Exchange or ZSE is a stock exchange located in Zagreb, Croatia. It is Croatia's only stock exchange. The exchange trades shares of Croatian companies, as well as bonds and commercial bills....
and is one of 24 companies included in the CROBEX
CROBEX
CROBEX is the official share index of the Zagreb Stock Exchange. As of March 2011, it includes stocks of 25 companies and is calculated continuously using the latest stock prices...
share index.
PBZ was established in 1966 on the basis and the banking tradition of The First Croatian Savings Bank, itself established in 1846 in Zagreb by the members of the Farming Association of Croatia and Slavonia. It began its transformation into a publicly traded company in the 1990s, and it was privatised in December 1999 when Banca Commerciale Italiana
Banca Commerciale Italiana
Banca Commerciale Italiana, founded in 1894, was once one of the largest banks in Italy. In 1999 it merged with a banking group consisting of Cassa di Risparmio delle Provincie Lombarde and Banco Ambroveneto, the former Banco Ambrosiano, which had merged in 1998. On 1 January 2003, the group's...
(BCI) acquired a 66.3 percent stake in it, with the Government of Croatia
Government of Croatia
The Government of the Republic of Croatia , commonly abbreviated to Croatian Government , is the main element of the executive branch of government in Croatia. It is led by the President of the Government , commonly abbreviated to premier...
reducing its stake to 25 percent. In 2000 BCI was merged into Banca Intesa
Banca Intesa
Banca Intesa S.p.A. was formed in 1998 from the merger of Cassa di Risparmio delle Provincie Lombarde and Banco Ambroveneto...
and in January 2007 Banca Intesa merged again with Sanpaolo IMI
Sanpaolo IMI
The Gruppo Sanpaolo IMI was one of Italy's major banking and insurance groups, based in Turin. It employed about 44,000 people and had about 7 million customers....
to form the Intesa Sanpaolo
Intesa Sanpaolo
Intesa Sanpaolo is a banking group resulting from the merger between Banca Intesa and Sanpaolo IMI based in Turin, Italy. It has clear leadership in the Italian market and a minor but growing international presence focused on Central-Eastern Europe, the Middle East and North Africa Intesa Sanpaolo...
group, which currently includes PBZ.
Many notable Croatian economists worked at PBZ, including the current Governor of the Croatian National Bank
Croatian National Bank
The Croatian National Bank is the central bank of the Republic of Croatia.HNB was established by the Constitution of Croatia which was passed by the Croatian Parliament on 21 December 1990. Its main responsibilities are maintaining the stability of the national currency, the kuna, and ensuring...
(HNB) Željko Rohatinski
Željko Rohatinski
Željko Rohatinski is current Governor of the Croatian National Bank. He succeeded Marko Škreb in July 2000.Rohatinski graduated from the University of Zagreb Faculty of Economics in 1974, where he also received his doctorate in 1988 with a thesis titled Vremenska dimenzija ekonomske aktivnosti...
(worked as bank's Chief Economist
Chief economist
The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis...
1998–2000) and the former HNB Governor Marko Škreb
Marko Škreb
Marko Škreb was Governor of the Croatian National Bank from 1996 to 2000.Škreb graduated from the University of Zagreb Faculty of Economics in 1980. After spending time at the Boulder Economics Institute and University of Pittsburgh he returned to Zagreb and received his doctorate in 1990...
(appointed PBZ Chief Economist in September 2007). Božo Prka, the bank's CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
since 1998, served as Finance Minister 1995–1997 under Prime Minister Zlatko Mateša
Zlatko Mateša
Zlatko Mateša was the Prime Minister of Croatia from late 1995 until 31 January 2000. He is a member of the Croatian Democratic Union....
. Current Finance Minister Martina Dalić
Martina Dalić
Martina Dalić is a Croatian economist and finance official currently serving as Croatia's Minister of Finance having been appointed to the office on 29 December 2010...
worked as Chief Economist 2000-2004.
PBZ received numerous awards in recognition of its powerhouse status in Croatia and the region by industry journals such as Euromoney magazine
Euromoney (magazine)
Euromoney magazine, a monthly periodical, is the flagship publication of business and financial publisher Euromoney Institutional Investor....
, Global Finance magazine
Global Finance (magazine)
Global Finance is an English-language monthly financial magazine.Joseph D. Giarraputo, the founder and former publisher of Venture, the magazine for entrepreneurs, in 1987 joined forces with Carl G. Burgen, Stephan Spahn, H. Allen Fernald, and Paolo Panerai to start a magazine on financial...
and The Banker
The Banker
The Banker is an English-language monthly international financial affairs publication owned by The Financial Times Ltd. and edited in London...
, and is also a three-time winner of the Croatian Chamber of Commerce "Golden Kuna" Award for Best Bank (2003, 2004 and 2009). Since 2006, Privredna banka Zagreb sponsors the annual PBZ Zagreb Indoors
PBZ Zagreb Indoors
PBZ Zagreb Indoors is a tennis event on the ATP Tour held in the Croatian capital of Zagreb. From 2009 it is part of the ATP 250 Series and offered 250 ranking points. The tournament is played on a fast and hard indoor surface and features both a men's singles and a men's doubles tournament.The...
tennis tournament which is part of the ATP 250 series
ATP World Tour 250 series
The ATP World Tour 250 series is a new series for tennis tournaments of the Association of Tennis Professionals from the 2009 ATP World Tour...
.