S&P lifts Zaba view to stable

S&P said it revised the outlook on Zagrebacka banka dd (Zaba) to stable from negative.

The agency also said it affirmed the bank’s BB long-term counterparty credit rating.

Recent economic recovery in Croatia – with improved and accelerating gross domestic product growth, tax cuts and ongoing reduction of households' debt – demonstrates signs of improved personal income growth, S&P said.

These factors allow us to project an improved economic environment for the Croatian banking sector, the agency said.

S&P said it continues to view the trend for economic risks in Croatia as stable.

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