Despite the swift consolidation of the last few years, Croatia is still overbanked, with 35 banks for 4.4 million inhabitants. In the past five years, the number of Croatian banks fell from 60 to 35. In 2004 alone, five banks merged into larger groups or went into liquidation. This January, the merger of Privredna banka-Laguna banka into PBZ marked the continuation of the process, and the expected sale of Dresdner Bank Croatia may bring the number of banks down further.
Dramatic changes
