The European Central Bank (ECB), after establishing close cooperation with Българска народна банка (Bulgarian National Bank) and Hrvatska narodna banka (Croatian National Bank) and assessing the significance of the countries’ banks, announced today that it will start directly supervising five banks in Bulgaria and eight banks in Croatia.
In particular, the ECB will be responsible for directly supervising four Bulgarian and seven Croatian subsidiaries of existing significant banking groups headquartered in Belgium, Greece, Italy and Austria. This ensures that the ECB fulfils the regulatory requirements that it must directly supervise a) at an individual level all banks belonging to significant groups, and b) at least the three most significant banks in each country.
The ECB will also directly supervise two new institutions, DSK Bank AD in Bulgaria as of 1 October and Addiko Bank AG group in Austria as of 7 October. The supervision of Addiko Bank AG group will include supervision of its subsidiaries Addiko Bank d.d. in Slovenia and Addiko Bank d.d. in Croatia.
The full list of directly supervised banks is provided in the table below.
The ECB will also be responsible for the oversight of the less significant institutions and in charge of the common procedures for all supervised entities in the two countries.
|Member State||Bank directly supervised by the ECB as a result of close cooperation||Parent of the significant group to which the bank belongs||Comments|
|Bulgaria||UniCredit Bulbank AD||UniCredit S.p.A.||Largest bank in Bulgaria|
|Bulgaria||DSK Bank AD||–||Second largest bank in Bulgaria|
|Bulgaria||United Bulgarian Bank AD||KBC Group NV||Third largest bank in Bulgaria|
|Bulgaria||Eurobank Bulgaria AD||Eurobank Ergasias Services and Holdings S.A.|
|Bulgaria||Raiffeisenbank (Bulgaria) EAD||Raiffeisen Bank International AG|
|Croatia||Zagrebačka banka d.d.||UniCredit S.p.A.||Largest bank in Croatia|
|Croatia||Privredna banka Zagreb d.d.||Intesa Sanpaolo S.p.A.||Second largest bank in Croatia|
|Croatia||Erste & Steiermärkische Bank d.d.||Erste Group Bank AG||Third largest bank in Croatia|
|Croatia||PBZ stambena štedionica d.d.||Intesa Sanpaolo S.p.A.|
|Croatia||Raiffeisenbank Austria d.d.||Raiffeisen Bank International AG|
|Croatia||Raiffeisen stambena štedionica d.d.||Raiffeisen Bank International AG|
|Croatia||Sberbank d.d.||Sberbank Europe AG|
|Croatia||Addiko Bank d.d.||Addiko Bank AG|
|Slovenia||Addiko Bank d.d.||Addiko Bank AG|
|Austria||Addiko Bank AG||–|
Link to full press release – Click here.