Besides the usual banking services, including loan operations, credit card transactions and the opening of exchange offices in attractive tourist resorts, the Bank will offer a wide choice of banking services to private entrepreneurs during the privatisation and restructuring of the Croatian economy. The Bank's transactions with individuals and companies will be effected both in kunas and foreign currencies. The two partners will issue an internationally valid co-branding card, which its holders will be able to use at over 3.4 million sales points in Croatia and abroad. By using the card in hotels, restaurants and on Croatia Airlines flights, holders will have a chance to win a free airline ticket, gain priority on waiting lists etc. During a recent visit to Zagreb, representatives of the well-known Korean company Daewoo expressed interest in buying a large Croatian bank.
Negotiations are underway.
The Daewoo company also expressed readiness to invest in shipbuilding and the real estate market - the building of hotels, administrative buildings and apartments. This arrangement shows that Hermes trusts and values our bank and its Croatian clients, who will be able to import DM 10 million worth of equipment with Hermes coverage and guarantees in 1997, says Ante Todoric, chairman of the Kreditna Banka managing board. The bank is also about to make some other arrangements for guarantees and import credits with other foreign financial houses. Even though it has been in business for only three years, this successful private bank has developed a worldwide network of business partners. It is still uncertain what will happen to the DM 140 million deposit entrusted by 29 Croatian banks to the Trieste Credit Bank, which has recently gone bankrupt.