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#ECB to test five Croatian banks as country aims for euro entry

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The European Central Bank said on Wednesday (7 August) it would carry out a stress test of five Croatian banks, a preliminary step in Zagreb’s bid to join the eurozone, writes Francesco Canepa.

Zagrebačka banka, Privredna banka Zagreb, Erste & Steiermärkische Bank, OTP banka Hrvatska and Hrvatska poštanska banka will all be tested, with results expected in May 2020, the ECB added.

Croatia last month submitted a formal bid to join the European Exchange Rate Mechanism (ERM-2), an early stage on the path to membership of the euro currency.

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