Deposit insurance system
Members of deposit insurance system are State Agency for Deposit Insurance and Bank Resolution, all credit institutions registered in the Republic of Croatia, regulators and supervisors of credit institutions – the Ministry of Finance and the Government of the Republic of Croatia. The system is activated in the event of bank bankruptcy and financed from the Deposit Insurance Fund.
Independent specialised institution
State Agency for Deposit Insurance and Bank Resolution was founded in 1994 as a specialised non-profit financial institution. In the beginning it engaged in bank resolution, but following the development of financial system, those activities were replaced by the function of deposit insurance in credit institutions. The Agency was founded pursuant to State Agency for Deposit Insurance and Bank Resolution Act, and its operation is regulated by a series of other regulations and subordinate regulations.
The main function of the Agency is protection of citizens (natural persons), small entrepreneurs and non-profit organisations from losing their deposits in the event of bankruptcy of credit institution where their funds are deposited. Confirmation of successful fulfilment of Agency's main function is the fact that each time when Croatian National Bank (HNB) ascertained the inaccessibility of the deposit, the Agency promptly and effectively paid out the compensations to the owners of the insured deposits. Since its foundation, more than 200,000 depositors have been successfully compensated with more than 4.8 billion kuna for insured deposits due to bankruptcy of 27 banks and savings banks.
In order to perform its duties even better, the Agency continuously cooperates with all other financial system participants, as well as international institutions. It is a member of European Forum of Deposit Insurers (EFDI) and International Association of Deposit Insurers (IADI).
Vision and mission
Our mission is to preserve trust in financial system, protect the citizens and economy and provide support to credit institutions in ensuring stable and long-term business operations.
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