Communication
The aim of the protection of market competition is primarily to create benefits for consumers and equal conditions for all entrepreneurs on the market, who, acting in accordance with the existing rules and competing on the market with the quality, price and innovation of their products and services, contribute to the overall development of the economy.
CCA clears concentration between HPB and Sberbank Hrvatska
On 1 March 2022 the CCA received a pre-notification of the concentration between HPB and Sberbank Hrvatska, under extraordinary procedure of the Single Resolution Board of the Banking Union, relating to the sanctions imposed by the EU due to the Russian invasion on Ukraine.
Acting in line with the request of the notifying party, in its decision of 1 March 2022 the CCA allowed the implementation of particular steps relating to the implementation of the notified concentration within the meaning of Article 19 paragraph 6 of the Competition Act before the expiry of the time period specified under Article 22 paragraph 1 of the Croatian Competition Act, with respect to all steps that were considered necessary for the implementation of the above-mentioned decision of the Single Resolution Board.
Based on the complete notification of concentration, the defined structure of the relevant market, the post-merger market share of the parties to the concentration, the expected effects of the concentration in the form of benefits for the consumers, as well as other data and findings, the CCA found that this concentration cannot constitute a prohibited concentration in the sense of Article 16 of the Competition Act.
The parties to the concentration are principally present in the individual and business deposits markets and the individual and business loans markets in the Republic of Croatia, therefore, the transaction will predominantly produce effects in the banking services market in the territory of the Republic of Croatia.
After the CCA received the complete notification of concentration it published on its official website the request for information from all interested parties with the view to receiving further written comments and explanations with respect to the concentration at issue. No replies to this request for information were submitted to the CCA within the prescribed deadline.
In view of the above-mentioned, the concentration concerned is not likely to produce any anticompetitive effects and it has been cleared in Phase I.