January 21, 2015 / 1:36 PM / 5 years ago

Over a third of Croatian home loans denominated in Swiss francs

ZAGREB, Jan 21 (Reuters) - Some 38 percent of all home loans in Croatia are denominated in Swiss francs, the central bank said on Wednesday, underscoring the challenge to the Balkan country from a surge in the value of the franc.

Central bank governor Boris Vujcic told a news briefing that Swiss franc-denominated loans accounted for 16 percent of all lending.

The value of the franc has soared since the Swiss National Bank scrapped its cap on the currency last week, driving up mortgage instalments for hundreds of thousands of homeowners in central and eastern Europe. (Reporting by Igor Ilic; Writing by Matt Robinson)

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