Last update on: 11.2.2010 | 13:54
BANKING
Citizens owe over HRK 111bn at end-2009
Author/source: SEEbizCitizens owed over HRK 111bn at end-2009, compared to HRK 122bn a year earlier. Only mortgage loans registered an increase to HRK 52.45bn, up HRK 503mn. Consumer and credit card loans prove the most expensive way to maintain liquidity, while research shows that 70% of citizens cannot cover their basic living needs.
Banks placed less than HRK 50bn into consumer loans, down HRK 3bn y/y, but still earned HRK 141mn more on interest rates. Credit card loans were lowered from HRK 5.44bn at end-2008 to HRK 4.89bn a year later, while interest rates brought HRK 12.6mn more revenue. As car sales halved last year, so car loans went down from HRK 9.54bn to HRK 7.6bn.
In sum, banks earned over HRK 10bn on interest rates alone, which is HRK 509.7bn more than in 2008.
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