Zagrebacka banka
Encyclopedia
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. It is one of 24 companies included in the CROBEX
share index.
Zagrebačka banka was established in 1914 as Gradska štedionica (English
: City savings bank
) by the Zagreb municipal authority at a time when Zagreb had a population of 100,000 and was rapidly developing into a modern city. The banks' primary role was financing the city's public companies. Two years after its foundation, the bank acquired the Zagreb electric tram company (ZET) and invested heavily in the development of the tram network and public transport in general. After World War II
the bank was renamed Gradska štedionica Zagreb in 1946. After a series of reorganisations throughout the following decades, some of its offshoots merge to form Zagrebačka banka in 1977 (intended to provide loans for local companies), while the Gradska štedionica narrows it focus to providing financial services to citizens. In the late 1980s these are merged again to form the very first banking joint stock company
in the former SFR Yugoslavia.
In March 2002, ZABA was acquired by the UniCredit Group of Italy. As the country's largest bank, its assets account for 25 percent of total assets in the Croatian banking sector, and its services are used by 80,000 businesses and 1.1 million citizens.
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 ...
, owned by UniCredit
UniCredit
UniCredit SpA is an Italy-based, pan-European banking organization, with aprox 40 million customers and operations in 22 countries.- Geography :...
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
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....
in 1995. It 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.
Zagrebačka banka was established in 1914 as Gradska štedionica (English
English language
English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...
: City savings bank
Savings bank
A savings bank is a financial institution whose primary purpose is accepting savings deposits. It may also perform some other functions.In Europe, savings banks originated in the 19th or sometimes even the 18th century. Their original objective was to provide easily accessible savings products to...
) by the Zagreb municipal authority at a time when Zagreb had a population of 100,000 and was rapidly developing into a modern city. The banks' primary role was financing the city's public companies. Two years after its foundation, the bank acquired the Zagreb electric tram company (ZET) and invested heavily in the development of the tram network and public transport in general. After World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
the bank was renamed Gradska štedionica Zagreb in 1946. After a series of reorganisations throughout the following decades, some of its offshoots merge to form Zagrebačka banka in 1977 (intended to provide loans for local companies), while the Gradska štedionica narrows it focus to providing financial services to citizens. In the late 1980s these are merged again to form the very first banking joint stock company
Joint stock company
A joint-stock company is a type of corporation or partnership involving two or more individuals that own shares of stock in the company...
in the former SFR Yugoslavia.
In March 2002, ZABA was acquired by the UniCredit Group of Italy. As the country's largest bank, its assets account for 25 percent of total assets in the Croatian banking sector, and its services are used by 80,000 businesses and 1.1 million citizens.