Hrvatska banka za obnovu i razvitak (HBOR) was established on 12th June 1992 by the Act on the Croatian Credit Bank for Reconstruction (Hrvatska kreditna banka za obnovu - HKBO) (NN - official gazette of the Republic of Croatia, No. 33/92, amended NN 76/93, 108/95, 08/96). In December 1995, the Bank was renamed Hrvatska banka za obnovu i razvitak (Croatian Bank for Reconstruction and Development). In December 2006, the new Act on the Croatian Bank for Reconstruction and Development was passed (NN 138/06) and in March 2013, the Act on Changes and Amendments to the Act on Hrvatska banka za obnovu i razvitak (the Official Gazette of the Republic of Croatia, No. 25/13) came into force. The change of the Act relates to the number of members of the HBOR Supervisory Board.

Main Role

Within the Croatian banking system, HBOR plays the role of a development and export bank established with the objective of financing the reconstruction and development of the Croatian economy.

Main activities of HBOR

  1. financing the reconstruction and development of Croatian economy
  2. financing infrastructure
  3. promoting exports
  4. supporting the development of small and medium-sized enterprises
  5. promoting environmental protection
  6. insuring the exports of Croatian goods and services from non-marketable risks


HBOR was founded and is entirely owned by the Republic of Croatia.

Founder's Capital

The Founder's capital was prescribed by the Law in the amount of HRK 7 billion, the payment schedule of which is determined by the Government of the Republic of Croatia.

Credit Rating

HBOR is rated by the following international rating agencies: Moody's Investors Service (Ba2) and Standard & Poor's (BB).

Regional Offices

Regional Office for Slavonia and Baranja
Regional Office for Dalmatia
Regional Office for Istria
Regional Office for Lika
Regional Office for Primorje and Gorski kotar


323 employees as of 30 June 2015

Formation of HBOR Group

HBOR Group was formed in July 2010 when Hrvatsko kreditno osiguranje d.d. started to operate. Hrvatsko kreditno osiguranje d.d. established a company Poslovni info servis d.o.o., 100% owned by it, which started to operate in December 2010.

Name Role within the Group % of participation Headquarters Business activities
Hrvatsko kreditno osiguranje d.d. Subsidiary company, direct equity participation 100% - HBOR Republic of Croatia Insurance for company’s foreign and domestic short-term receivables regarding shipments of goods and services
Poslovni info servis d.o.o. Subsidiary company, indirect equity participation 100% - Hrvatsko kreditno osiguranje d.d. Republic of Croatia Providing analysis, credit risk assessment and information on creditworthiness


Illustration of the Group structure