PRESS RELEASE
PRESS CONFERENCE
Hotel Esplanade Zagreb, July 9, 2001
READY FOR EURO? WE ARE!
is the motto of EURO campaign that Hypo Alpe-Adria-Bank d.d. started this May with the intention of familiarizing its clients with the possibilities offered by the introduction of Euro as common currency of the 12 European Monetary Union countries, all through a series of promotional activities.
Drawing on the experience of the whole Hypo Alpe-Adria Group, active in five countries, among which Austria and Italy are already EMU members, and Slovenia, Croatia and Bosnia and Herzegovina want to be the members, Hypo Alpe-Adria-Bank d.d. brought its operation in line with this biggest project yet in the present monetary sphere, deciding to bring it closer to its clients as much as possible. Even though Croatia is not an EMU member, it too shall feel the long ranging consequences of Euro introduction. Considering the fact that two thirds of its foreign trade exchange is realized with EMU member countries, it is easy to anticipate the extent of the impact this introduction shall have on Croatia’s economy. In May Croatia became the official candidate for EU membership and it is therefore extremely important for it to come as close as possible to the standards of this Union in both politics and economy. Hypo Alpe-Adria-Bank d.d. wishes to contribute to that goal through its activities. Our bank has signed a Partnership Agreement with European Central Bank – EURO 2002 PARTNERSHIP – providing access to information relative to the introduction of Euro, as well as support in the implementation of the project. The ECB web-site (www.euro.ecb.int) speaks of the success of this cooperation as it refers to the activities of Hypo Alpe-Adria-Bank d.d. as the “best practice”.
Introduction of Euro requires changes in the operation of banks in Croatia and these shall mostly be carried out according to the principle of automatism. In order to provide its clients with the adjustment period and efficient operation from the very start of the introduction of the new currency, Hypo Alpe-Adria-Bank d.d. has already implemented some of the measures as follows: BANKING WITH LEGAL ENTITIES All funds deposited into the accounts of the Bank until June 11, 2001 in currencies of EMU member countries (“IN” currencies) have been converted into EUR and foreign currency account statements have also been expressed in it. Until December 31, 2001 collections and payments per all instruments of international payment operations can be done in both national currency and EUR. Guarantees and letters of credit expressed in a national currency shall be deemed valid even after January 1, 2002 even though they shall be kept in Euro. As of June 11, 2001 all loans pegged to an exchange clause of one of the EMU members have been pegged to EURO. Terms and interest rates have not been altered. PRIVATE BANKING As per triangular principle all foreign currency accounts and savings deposits of private persons that were expressed in one of the “IN” currencies have on June 30, 2001 been converted into Euro free of charge for clients. In this way six months prior to the introduction of Euro clients may deposit and withdraw all “IN” currencies from one single account at no cost. The Bank’s working group for implementation and promotion of EURO project organized systematic staff training, and made a comprehensive material with information that was distributed to all clients. Presentations were held in branches all over Croatia. If you wish to learn more visit Hypo Alpe-Adria-Bank’s web-site (www.hypo-alpe-adria.hr). In addition, a new promotional product has been conceived to be included into the offer of Hypo Alpe-Adria-Bank d.d. between August 1, 2001 and December 31, 2001.
HYPO EURO SAVINGS It refers to term savings for the period of 15 months symbolizing 15 European Union member countries with fixed interest rate: I category: II category: III category: IV category: EUR 2.500 – 25.000 5,25 % pa EUR 25.001 – 50.000 5,50 % pa EUR 50.001 – 100.000 5,75 % pa EUR over 100.000 6,00 % pa
All private persons who conclude HYPO EURO SAVINGS Contract in the period between August 1 and December 31, 2001 participate in a prize competition where they can win a trip to one of “Euroland” countries. Lucky winners shall be drawn in early January of 2002 and the prizes are: 1. Weekend for two in Brussels 2. Weekend for two in Frankfurt 3. Weekend for two in Vienna plus many consolation prizes.