In response to citizens' inquiries regarding the operation of Ferratum Bank plc in the Republic of Croatia, the Croatian National Bank considers it necessary to release the following statement:

The company that previously operated under the name Ferratum Bank plc as changed its name to Multitude Bank plc and operates as part of a group Multitude AG (previously Ferratum Oyj/Ferratum Group). However, in the Croatian market the Bank has continued to engage with consumers under its previous name Ferratum, as it is recognisable in the market. We would like to emphasise that this is the same legal entity that currently operates under the name Multitude Bank plc.

Multitude Bank plc (previously Ferratum Bank plc) Ferratum Bank plc is authorised by the competent authority of the Republic of Malta to provide banking services in its home state, Malta, and directly in the territory of other Member States of the European Union, including the territory of the RC. At the same time, pursuant to the regulations in force in the RC and in the EU, the Croatian National Bank neither authorises nor exercises prudential supervision over its operation or the operation of credit institutions from other Member States of the EU that directly provide services in the RC. Their operation is supervised by the competent authorities of the Member States that have authorised them.

When concluding agreements with such institutions, clients must take into account that the Croatian National Bank cannot provide them with the same level of monitoring of consumer protection as clients of domestic credit institutions it has authorised and whose operation it supervises. In view of this fact, citizens intending to use the services of credit institutions from other Member States of the EU providing services in the RC or enter into a business relationship with such an institution, including through the internet, are therefore advised to obtain detailed information on the principles of the European market of financial services. They are also strongly recommended, as when concluding any other agreement, and prior to reaching a final decision, to very carefully analyse the available information and documentation on the products and services offered. If necessary, they can consult with experts to be able to fully understand all the rights and obligations they would assume when contracting a particular product or service.