News

Lions club Varaždin organized the Bean stew making contest this year as well on the terrace of the "Park" restaurant. Through this traditional manifestation held on the 17^th October, HRK 100.000 have been raised for humanitarian purposes. In the making of bean stew, in our county traditionally known as "beans" 17 teams appeared and helped raise the funds for Lions club humanitarian actions by paying a participation fee. What was also chosen were the best wine, slogan and eam that left the best impression. The main activity this year was raising funds for the making and setting up of an embossed sculpture of Varaždin city centre, that would enable blind and partly sighted people to get around more easily and to experience the beauty of our baroque city by touch. Vaba bank was included in this humanitarian action, as well as in the previous years, with a leam that consisted of: Damir Štefičar (head chef), Franjo Šurbek and Mario Ganzer (as assistants to the chef).
This year they did not manage to repeat the success from 2008 when Franjo took home the title of the most  tidy chef, but that did not prevent them from having a good time, eating tastefully prepared bean stew, and in the end performing a good deed.
And as the motto of our team says, "Beans, garlic, onions and bacon, Vaba team wishes you Bon Apetit!", so be it until the next contest.

In the first semester of 2009, Vaba bank Inc. Varaždin achieved HRK 51,4 million of interest revenues, which represents a growth of 18,6% compared to the same period last year. As a result of the increase of interest rates on the money market, as well as the higher interest rates on savings, the interest expenses have risen by 34,5%, bringing the total net interest revenue to HRK 19,9 million, being less (for 0,2%) than the results accomplished in the first 6 months of 2008. General administrative expenses and depreciation are 1,0% under the figures from the same period last year and amount to HRK 23,4 million, resulting with the achieved net profit of HRK 2,4 million.

Total assets on the 30^th June 2009 come to HRK 1,2 billion, while the retail deposits are HRK 543,1 million, i.e. HRK 54,2 million (11,1%) more than at the end of 2008. By capital increase (performed in March 2009), capital of the Bank has been increased by HRK 23,2 million, and is HRK 152,8 million on the 30^th June 2009.

More detailed information on the Bank's business results for the first semester of 2009 can be found on the Bank's web pages under "Information for investors".

Users of the credit line "Local development projects - Microloans" can be craftsmen, small and medium enterprizes, as well as cooperatives and institutions that are 100% owned by Croatian citizens and invest in the area of Varaždin County.

Loans ranging from the amount of HRK 35.000,00 to a maximum of HRK 200.000,00 can be obtained for the purchase, construction, reconstruction or expansion of business facilities, purchase of equipment or parts of equipment, or for permanent working capital, as well as working capital, to the amount of HRK 100.000,00.

Maximum maturity is five years, including a one year grace period, unless the loan is used for working capital purposes.

Ministry of Economy and Varaždin County each subvention the interest with 1% for all entrepreneural loans granted based on the Contract on project enforcement, so that the interest rate for the final user comes to 4,90%.

Vaba bank Inc. Varaždin and Varaždin County, as partners in this project, have so far approved the total of 13 entrepreneurial loans in the total amount of HRK 1.885.000,00, giving an average loan amount of HRK 145.000,00.

In the total number of approved loans craftsmen participate with approvals, cooperatives with one, while other loans were granted to Ltd. companies.

Loans that were approved so far have been utilized for the financing of purchase of equipment i.e. vehice, reconstruction or adaptation of business facilities and for financing working capital.

From the total of 13 approvals, Guarantee issued by Guarantee Agency of Varaždin County has been used as an additional insurance instrument  for 4 approvals, and the total value of issued Guarantees is HRK 195.000,00. To the total exhaustion of the loan fund set at the amount of HRK 5 million, HRK 3.115.000,00 still remains.

Igor Čičak, CEO of Vaba bank Inc. Varaždin pointed out at this occasion: "Through this project a very successful cooperation with Varaždin County has been continued, that has recognized the potential of a domestic bank as a partner and originator of craftsmenship and small entrepreneurship in the County. The advantages of such projects are various, and to existing and potential loan users, especially today, they represent a quality and favourable financing source on the way to the realization of their ideas."

County-prefect of Varaždin County Mr. Zvonimir Sabati expressed his satisfaction at this occasion with all the approved loans and stated that in projects such as this, but Cash-pool as well, Varaždin County takes part as a socially responsible institution that by disposing of Budget funds and evaluating advantages of each separate business cooperation, as well as by cooperating with quality business partners, contributes to the creation of quality preconditions of the economy of Varaždin County.

Additional incentive to entrepreneurs from the Ivanec region has been enabled through the line "Loan financing of investments by craftsmen and entrepreneurs into Business Area Ivanec", the loan fund being HRK 10 million, where the implementation is expected during this year.

Cooperation on all the above listed projects continues to go on and remains to be opened for all craftsmen and entrepreneurs from the area of Varaždin, Ivanec and Varaždin County in general, to the moment that the assigned loan funds have been exhausted.