Global financial crisis started in 2008. in USA and because of the connection of financial systems it has spread across the world. Since most of the causes of the crisis occurred in the banking business, the crisis had a negative impact on credit activities of banks. The aim of this paper is to provide insight into the impact of the crisis on all aspects of the business banks in Croatia. Conclusions of the paper which were obtained by comparing historical data on bank operations before the crisis until the end of 2014 suggest that Croatian banks are still feeling the effects of the crisis. The crisis has slowed down the rapid growth of bank assets that existed until 2008, influenced the changes in the structure of balance sheets, reduced the profit of banks and profitability indicators and has increased risks to which banks are exposed. Banks have responded to the increased risks by increasing the capital adequacy ratio, and to the volatility of interest rates in the interbank market, which occurred because of measures to maintain price stability responded by stockpiling liquidity. That is why Croatian banks are now safe and have the capacity to increase credit activity, but significant recovery of credit activity is still missing. Croatian banks were not affected by crisis directly, but through worsening macroeconomic conditions, such as strong growth and keeping unemployment at high levels, inability of companies to repay loans, a large drop in real estate prices, a fall in real GDP and the growth of the state debt. Therefore, the recovery of bank operations will not happen until the macroeconomic environment in which Croatian banks operate becomes convenient. The crisis has not significantly affected the number of banks, their concentration or the structure of ownership.