EU Desk and Development Bank

Dear clients,
 
We would like to inform you that Privredna banka Zagreb d.d. (hereinafter: the Bank) has recently amended its Decision on fees in transactions with domestic and foreign business entities, individuals and financial institutions (hereinafter: the Decision). It refers to the introduction of a fee on EUR legal entities deposits larger than EUR 1 million (balances in EUR demand deposit accounts/transaction accounts). The said amendment will become effective starting from1 May 2021 for the EUR accounts of financial institutions.
 
The fee level is 0.50 % p.a., and it will be calculated on a monthly basis on the last day in a month for the current month, on the basis of daily account balances that exceed the above-mentioned amount. Daily account balances that are lower than the mentioned amount will not be included in the basis for calculation. Calculated fees will be collected in accordance with the agreed terms and conditions, by directly debiting transaction account in EUR, on the 10th day after the calculation, while the notice of fee calculation will be delivered via the regular communication channel.
 
The Bank has introduced the mentioned fee after taking into consideration the costs it bears in connection with foreign currency funds held in accounts in Croatia and abroad, in accordance with the usual practice followed in Eurozone countries. For example, the European Central Bank (hereinafter: the ECB) already introduced in June 2014 a negative interest rate on deposits, which - as of September 2019 - stands at the level of - 0.50%.
 
With best regards,
 
Privredna banka Zagreb d.d.

As a full member of the European Union, Croatia uses financing available through  the European Structural and Investment Funds (ESIF), as well as all other EU programmes and initiatives. The ESI funds are intended for beneficiaries who promote sector policies and objectives of the European Union, such as strengthening of economic cohesion, promoting employment and reducing disparities between the levels of development of its various regions. The beneficiaries can be public, private and non-governmental organizations, and the applicant's eligibility - eligibility of potential beneficiaries - is specified in each call for proposals and accompanying instructions. 

EU Desk
Privredna banka Zagreb is one of the first banks to have recognized the opportunities which EU funds offer to small and medium-sized enterprises, craftsmen, farmers and many other entities, and has established a specialized office - EU Desk – in order to be able to play an active role in processes of enormous importance for the Croatian economy.

What do we offer?

• Financing via financial instruments where funding is obtained through EU funds and commercial banks according to the ratio 50:50, which funds are used to support investment projects of small and medium entrepreneurs, farmers, craftsmen;
• Financing and co-financing of EU projects (grant agreements require, as a rule, that an applicant (potential beneficiary) takes part in project financing; co-funding amounts are defined for each specific call for project proposals, and they vary from 10-25% for non-governmental organizations for example, while they may go up to 50% for small and medium-sized enterprises);
• Financing which is supported by guarantee schemes (portfolio and individual guarantees) offered in cooperation with the European Investment Fund (EIF) and HAMAG BICRO (Croatian Agency for SMEs, Innovations and Investments);
• Assistance in project implementation (by issuing bank guarantees, letters of intention, account balance reports required to prove that project financing has been secured, by providing advice on public procurement procedures, etc.);
• Investments / working capital financing provided under lending programmes agreed with the Croatian Bank for Reconstruction and Development (HBOR), HBOR credit lines as well as export credit insurance programmes

For more information please contact us at eudesk@pbz.hr.