Subject of this thesis is impact of the recession, which in 2009. affected global and soon after that Croatian economy, on four major Banks in Republic of Croatia. Considering it is about four leading banks, which are together holding over 60% of the Croatian market, after their business analysis, it can be concluded that most of banking system has been tainted. For the purpose of objectivity, in thesis there are presented key macroeconomic indicators in the Republic of Croatia which are important for understanding the depth of the recession and their impact on the economy and thus on the banking business. In order to present macroeconomic indicators in the Republic of Croatia, data published by Raiffeisenbank Austria d.d. analysts were used, which were issued in their regular publications. An analysis of the entire banking system at the beginning of the crisis was done and, in particular, an analysis of all four banks, through the analysis of the bank's balance sheet and the profit and loss statement. Key figures for business performance were calculated for the period of 2009 to 2015, which is officially the last year of the recession. For the analysis of the banking system, the reports of the Croatian National Bank were used, while for financial analysis of each bank, financial reports published on official websites were used. The banking system, and especially large banks, were in a respectable financial position when recession stroked them. Recession has had a negative impact on banking business, and the purpose of this thesis is to, through detailed research, show that banks proved their resistance to recession, and that they successfully bypassed negative economic trends. Through restructuring, they successfully adapted to new situation and with different strategies maintained a stable financial position. Special emphasis is put on the year 2015 in which banks carried out a one-time conversion of Swiss francs loans, which negatively affected the financial position of banks.