Utjecaj financijske krize na koncentraciju bankovnog sustava

master's thesis

• Title (english): Impact of the financial crisis on banking system concentration
• Author: Sanja Tomšić
• Mentor: Jakša Krišto (mentor)
• Committee member: Anita Pavković (predsjednik povjerenstva)
• Committee member: Ana Ivanišević Hernaus (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; Zagreb
• Defense date and country: 2015-09-21, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics

Abstract

Globalna financijska kriza započeta 2008. godine u Sjedinjenim američkim državama ostavila je dubok trag na bankovne sustave Europske unije i Hrvatske pa je cilj ovog rada ocijeniti njezin utjecaj na koncentraciju banaka na spomenutim područjima. Analizirajući dva najčešće korišten pokazatelja tržišne koncentracije, Herfindahl-Hirschmanov indeks i koncentracijski omjer, može se zaključiti kako je koncentracija tijekom zadnjih nekoliko godina u većini europskih zemalja i u Hrvatskoj sve veća. Bankovni sustav Europske unije prije krize bio je okarakteriziran procesom konsolidacije te je zabilježen velik broj prekograničnih spajanja i pripajanja banaka. No, nakon početka krize mijenjaju se strategije banaka, one postaju sve konzervativnije, fokus se seli sa želje za ekspanzijom na nova tržišta ka preživljavanju na postojećim, dok su mnoge institucije bile prisiljene na spajanje od strane svojih vlada, osobito u perifernim zemljama koje su bile najpogođenije krizom, a neke su i bile prisiljene prekinuti s radom. Sve je to dovelo do smanjenja broja kreditnih institucija te do većih pokazatelja koncentracije. S druge strane, u Hrvatskoj je prije krize bio zabilježen trend laganog smanjenja koncentracije budući da u navedenom periodu nije bilo mnogo spajanja, pripajanja ni likvidacija. No, već 2007. godine dolazi do preokreta te pokazatelji počinju rasti, ponajviše zbog rastućeg broja likvidacija banaka, kada je gotovo svake godine zabilježena po jedna likvidacija u bankovnom sektoru. Najranjivije su bile upravo male, slabije kapitalizirane banke koje su imale ograničene izvore nove likvidnosti te su se sve teže nosile s regulatornim opterećenjima. Kako će koncentracija mijenjati u budućnosti ovisit će o mnogim vanjskim i unutarnjim faktorima, od stanja na globalnom tržištu, preko novi regulacija do internih strategija pojedinih banaka.

Abstract (english)

The global financial crisis which started in 2008 in the United States left a deep trace on bank systems of the European Union and Croatia so the purpose of this paper is to analyze its influence on the bank concentration in those areas. By analyzing two of the most commonly used indicators, Herfindahl-Hirschman index and concentration ratio, it can be concluded that during the last couple of years concentration in most European countries, including Croatia, has been on the rise. The bank system of the EU before the crisis has been characterized by the process of consolidation with many cross-border mergers and acquisitions among banks. But, once the crisis hit, bank strategies had started to change, they became more conservative, the focus had changed from expanding to new markets to surviving on the existing ones, while many bank were pushed by their countries’ governments to merge or were forced to close down, especially in the periphery countries which were hit the most. All of this led to a decrease in the number of active credit institutions as well as to a rise in concentration. On the other hand, Croatia reported a decrease in bank concentration before the crisis, due to a lower number of mergers, acquisitions and liquidations during the period. However, in 2007 the situation switches and the concentration indicators start rising, mainly due to an increasing number of liquidations, with one liquidation reported almost every year. The most vulnerable were small, less capitalized banks which had limited fresh liquidity options and had a difficulty in handling with the new regulatory burden. How the concentration will change in the future will depend on many external and internal factors, from the state on the global market and new regulations to internal strategies of individual banks.

• Keywords: bankovni sustav; tržišna koncentracija; financijska kriza
• Keywords (english): bank system; market concentration; financial crisis
• Language: croatian
• URN:NBN: urn:nbn:hr:148:248104
• Study programme: Title: Business Economics; Study programme type: university; Study level: graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2016-10-04 17:02:44