EURO successfully introduced in Croatia

Zagrebacka Banka d.d.
EURO successfully introduced in Croatia as the official currency
Wed, 04/01/2023

Within the process of introducing euro as the official currency in Croatia, Zagrebačka banka (Bank) has successfully implemented the process of adapting its system to the euro, and all Bank's services have been fully available to clients as of 2 January 2023. 

Additionally, Global Securities Services successfully finalized euro conversion, so custody services provision was in business-as-usual mode on 2 January 2023 starting from 8:30 CET, with fully operational settlement, corporate actions, reporting and billing processes.

Trading on The Zagreb Stock Exchange has been fully operational as of 2 January 2023. 

The Central Depository & Clearing Company Inc. (SKDD) confirmed euro conversion was completed successfully and business operations were started as usual on 2 January 2023. With the introduction of the euro, SKDD became a member of the TARGET2 system, which enables the settlement of payments for the purpose of carrying out transactions with securities in euros in real time on a gross basis. All amounts of monetary liabilities and claims in relation to matched and unmatched settlement instructions in SKDD system with the settlement date in 2023 have been converted into euros in accordance with the rules for conversion and rounding.

Impact on investors: For information purposes only.