At its first meeting this year, the Council of the Croatian National Bank reviewed recent economic and monetary developments as well as passed several decisions falling within its field of competence.

BKS Bank AG, Klagenfurt obtained approval for the acquisition of a share of more than 75 percent in the share capital of Kvarner banka d.d. Rijeka, which by the size of its assets, pursuant to the unaudited September 2006 data, accounts for 0.13 percent of the market and ranks 29th among the 33 banks operating in the Croatian banking market. Cassa di Risparmio della Repubblica di San Marino S.p.A. obtained approval for the acquisition of a share of more than 75 percent in the share capital of Banka Kovanica d.d. Varaždin, which accounts for 0.30 percent of the market and ranks 24th among Croatia's banks.

The CNB Council endorsed the proposal of the supervisory board of Zagrebačka banka d.d. Zagreb for the re-appointment of Franjo Luković as the chairperson of the management board as well as the appointments of Sanja Rendulić, Tea Martinčić, Milivoj Goldštajn, Tomica Pustišek, Zvonimir Jurjević, Miljenko Živaljić and Christian Suppanz as members of the management board of that bank. In addition, the Council also granted the request for appointment of Mirko Brozović as chairperson and Branimir Čosić as a member of the management board of PBZ stambena štedionica d.d. Zagreb.