The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.19 - Other monetary intermediation
100 jobs Number of planned job losses
Announcement Date
13 December 2018
Employment effect (start)
8 January 2019
Foreseen end date
31 January 2019
Description
Hrvatska Postanska Banka (HPB) has announced its plans to close non-profitable branches of Jadranska Banka (JABA) which was acquired in July 2018. It is expected that a total of 80% of its branches will close, while around 100 persons will be dismissed. Main reasons for closures will be non-profitability and unsustainable business operations. After its takeover of JABA, HPB revealed that its goal will be to retain as many staff as possible. After the recapitalisation of HRK 110mn (EUR 14.81mn USD 17.08mn), JABA Sibenik officially merged with HPB.
Sources
Citation
Eurofound (2018), Jadranska Banka, Merger/Acquisition in Croatia, factsheet number 96212, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/96212.
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