Banks
Announcement
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.
Banks
Privredna banka Zagreb d.d., thanks to its widespread branch network in Croatia, the synergy resulting from combined resources of the PBZ Group and the Intesa Sanpaolo Group, as well as a developed network of correspondent banks, provides comprehensive support to its client banks in all areas of their business activity.
Products and services offered to our client banks include:
- Transaction Banking
- Guarantees, documentary letters of credit and documentary collections (Trade Finance)
- Export Finance
- Financing
- Treasury operations
- Investment Banking
For all inquiries, including those related to the establishment of business cooperation, please contact our Financial Institutions Department at fi.relations@pbz.hr.
Transaction Banking
Privredna banka Zagreb offers you numerous products and transaction banking services, including:
- transaction accounts
- payment operations
- Global Cash Management
Transaction Account
Privredna banka Zagreb can offer you opening and maintenance of an EUR account as well as a multi-currency account which is available in most of the currencies included in the exchange rate list of Privredna banka Zagreb d.d.
Through these accounts you will be able to make all your payments, whether commercial, interbank or documentary payments, as well as any other payments that are necessary for the normal conduct of your business.
Payment Operations
Privredna banka Zagreb d.d. has long and extensive experience in payments processing and, over the years, has become a leader in this field by introducing innovations and new technologies into this market segment. That is why the number of clients, including foreign and national banks as well as other financial institutions that have chosen to use our payment services increases every day. By using a developed network of correspondent banks in Croatia and abroad, we can execute payments anywhere in the world, in many world currencies. We can also process foreign payments in EUR or in other currencies for the users in Croatia by channelling payments either through a well-developed network of our local branch offices or through national or EU (Target 2; SEPA-STEP 2) clearing systems.
Global Cash Management
If your clients are multinational companies that have subsidiaries in Croatia, by signing the MT101 bilateral agreement with Privredna banka Zagreb and by arranging Global Cash Management service with a subsidiary in Croatia, we will provide your clients with the opportunity to manage their finances centrally and to make payments in EUR in Croatia based on received MT101 payment instructions. We can also deliver daily statements and balance reports for the accounts held by a subsidiary (MT940/941/942).
Trade Finance
We can offer the following trade finance products and services (guarantees, documentary credit and documentary collection) in support of your own business activities as well as business activities of your clients in Croatia, undertaken in cooperation with their Croatian partners
Guarantees
Since your local and foreign partners highly value the name of Privredna banka Zagreb, they may often explicitly request a bank guarantee to be issued by Privredna banka Zagreb.
At your request and on the basis of concluded domestic and international commercial contracts or other documentation, we can issue all types of guarantees that may facilitate domestic as well as foreign trade:
- payment guarantees – are used to secure payments for delivered goods and payments under granted financial loans,
- performance guarantees – are used as security for the fulfilment of contractual obligations (tender guarantees, advance payment guarantees, temporary import guarantees, performance bonds/guarantees which are used to secure good and timely performance of one's obligation under the contract, warranty guarantees, and other guarantees which secure the performance of a certain action),
- customs guarantees,
- all the above-mentioned types of guarantees can be issued as direct or indirect guarantees i.e. as counter-guarantees in favour of foreign banks,
- framework revolving facilities for issuance of guarantees and letters of intent.
In order to obtain approval for the issue of a guarantee, it is necessary to submit a request for a guarantee which should be accompanied with all relevant documentation, such as:
- the underlying contract, a tender announcement, etc.
- Application for a Guarantee (Zahtjev za izdavanje garancije)
For more information please contact trade.finance@pbz.hr or your Relationship Manager.
Export Finance
Export finance operations include:
- Buyer's Credit
A buyer's credit is a loan facility intended to support and promote export, through which PBZ, as the exporter’s bank, grants a loan to the importer's bank/to the importer, which is backed with an insurance policy against commercial and political risks issued by HBOR - the Croatian export credit agency, in favour of PBZ. This facility is used solely for financing export of goods and services of Croatian origin.
- Export forfaiting
Export forfaiting represents purchase of short- and medium-term receivables without the right of recourse to the previous creditor. In this way, the exporter obtains funds in the shortest possible time, before the actual payment is made for the exported goods, and at the same time it transfers to PBZ, as a forfaiter, credit risk, exchange rate risk and all other types of risks associated with foreign trade. It is the fastest way to finance exporters through the purchase of transferable instruments that secure payment.
- Export factoring
Export factoring is financial business which refers to purchase of receivables between business entities from Croatia and entities from foreign countries, based on the use of two-factor system in cooperation and communication with Factors Chain International (FCI).
For more information please contact export.finance@pbz.hr or your Relationship Manager.
Financing
Depending on your needs, PBZ can offer you financing via interbank loans or arrange a syndicated loan if the loan amount and loan terms require involvement of several banks. If you need financing, you may contact our Financial Institutions Department at fi.relations@pbz.hr.
Escrow Account
An escrow account is one in which one of the contracting parties to a commercial agreement (a client/principal in relation to the Bank) deposits in escrow with a bank (the bank acts as the agent) money, securities or documents which are to be held on deposit, where the bank shall be authorized to pay out the deposited money or release documents to the other contracting party (the beneficiary), under the conditions set out in the escrow agreement between the bank as the escrow agent, the client/principal, and the beneficiary.
It is a trust account which is used to settle claims and from which payment can be made only after certain conditions have been met. It is used for the provision of agency services when carrying out monetary transactions that require performance of specific actions, which is proven by presentation of the agreed documents.
If you need further information or would like to apply for this service, please contact your Relationship Manager.
Treasury
Privredna banka Zagreb d.d. is an important participant and one of the leading players in the Croatian financial market which offers a broad range of financial solutions to large corporate clients and institutional investors. A comprehensive range of services rendered includes execution of transactions in the domestic and international money markets, foreign exchange markets, capital markets and management of the bank’s liquidity.
For more information on treasury operations, please click here
Investment Banking
Privredna banka Zagreb is Croatia’s leading bank in the field of investment banking. Based on their specialist knowledge and many years of experience, our team of professionals has developed a range of products and services designed for both domestic and foreign clients. The most important services which the Bank provides include, inter alia, underwriting of and placing of financial instruments on / without a firm commitment basis, custody services, depositary bank service, brokerage services, structured finance, financial advisory services, financial analysis, etc.
For more information on investment banking, please click here
