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Press Releases 2018 - July

25.07.2018 - Meeting with Atlas Bank and IBM Management

17.07.2018 - Meeting of the CBCG Governor and the IMF Alternate Executive Director

06.07.2018 - Erste Bank interested in strengthening the position in the Montenegrin market

04.07.2018 - Meeting of the CBCG Governor and the management of Komercijalna banka

02.07.2018 - Twenty-eighth session of the CBCG Council held


CENTRAL BANK OF MONTENEGRO
Podgorica, 25 July 2018

Meeting with Atlas Bank and IBM Management

The Governor of the Central Bank of Montenegro, Radoje Žugić, and his associates met today with the main shareholder of Atlas Bank and Invest Bank Montenegro, Duško Knežević. The members of the management of both banks were also present at the meeting.

Mr Knežević and his associates informed the CBCG Governor about the business activities of Atlas Bank and IBM, as well as the challenges they face due to the circumstances that recently occurred. In this regard, representatives of Atlas Bank and IBM presented to the CBCG team the plan of measures and activities for resolving all outstanding issues.
 
Governor Žugić pointed out that the Central Bank of Montenegro will monitor the implementation of the presented plans and act within its competencies, with the aim of preserving the financial stability of the system.


CENTRAL BANK OF MONTENEGRO
Podgorica, 17 July 2018

Meeting of the CBCG Governor and the IMF Alternate Executive Director

The Governor of the Central Bank of Montenegro, Mr Radoje Žugić, and his associates met today with Mr Richard Doornbosch, the Alternate Executive Director of the International Monetary Fund (IMF).

The issues discussed at the meeting today covered the current economic situation in Montenegro, particularly focusing on the banking industry. The Governor Žugić introduced Mr Doornbosch with the banking performance indicators, which continued their positive trending initiated in the previous year. With the growth of credit activity and deposits, liquidity and solvency levels remain above the statutory minimum, while non-performing loans and interest rates continue trending downward, especially in case of corporate loans.

The Governor also highlighted intensive regulatory activities of the CBCG, aimed at aligning with EU directives, introducing best practices, and strengthening supervisory functions.

Mr Doornbosch expressed his appreciation to the CBCG for the cooperation so far, expressing the IMF’s willingness to continue supporting Montenegro in the further improvement of its fiscal and financial stability.


CENTRAL BANK OF MONTENEGRO
Podgorica, 06 July 2018

Erste Bank interested in strengthening the position in the Montenegrin market

The Governor of the Central Bank of Montenegro, Mr Radoje Žugić, met today with the Management Board Member of Erste Group Bank AG, Mr Willibald Cernko and Chief Executive Officer of Erste Bank AD Podgorica, Mr Aleksa Lukić.

Representatives of Erste Bank informed Governor Žugić about their plans aimed at strengthening the market position of this bank with the aim of providing further support to the development of the corporate sector in Montenegro. "The region of the Western Balkans and, in particular, Montenegro are important for our Group and we are very interested in strengthening our position in this market," he said. Mr Cernko added that this Group wants to contribute to the development of the society in which it operates, through an active role and by providing support to the corporate sector.

The present concluded that Erste Bank is adequately capitalized, profitable and liquid bank, and that the indicator of non-performing loans is below the systemic average.

Governor Žugić expressed satisfaction with the positive trends that characterize Erste Bank's operations, as well as the cooperation with its management so far.


CENTRAL BANK OF MONTENEGRO
Podgorica, 04 July 2018

Meeting of the CBCG Governor and the management of Komercijalna banka

The Governor of the Central Bank of Montenegro, Mr Radoje Žugić and his associates met today with the representatives of Komercijalna banka, headed by Mr Vladimir Medan, President of the Komercijalna banka Group.

It was noted at the meeting today that the banking system achieved excellent results with all parameters of the bank's operations being improved, and the vulnerabilities from the previous period significantly reduced. Particularly satisfying is the fact on the constant growth of deposits, as this trend is confirmed by the strong return of clients' trust in the banking system.

"Komercijalna banka ‘fits’ in the positive picture of the banking sector condition in Montenegro although, by share, it is a small but well capitalized, highly liquid and profitable bank," said Governor Žugić.

Representatives of the Komercijalna banka pointed out that this financial institution is dedicated to developing good relations with clients, and it has plans to expand its operations in Montenegro. To this end, the seat of this bank was recently transferred from Budva to Podgorica. "Our intention is to comply with domestic regulations and international standards in a way that will contribute to the preservation and strengthening of financial stability," said Mr Medan.

Governor Žugić pointed out that the CBCG will continue to improve communication and cooperation with this institution, with the aim of strengthening the safety and stability of the financial system of Montenegro.


CENTRAL BANK OF MONTENEGRO
Podgorica, 02 July 2018

Twenty-eighth session of the CBCG Council held

The Council of the Central Bank of Montenegro held its twenty-eighth session, chaired by the Governor, Radoje Žugić.

The Council considered and adopted the Report on the bankruptcy proceedings over Ekos banka AD Podgorica in liquidation, from 7 June 2011 to 30 April 2018, and gave recommendations to the bankruptcy administrator and the bankruptcy committee to accelerate the activities on conversion of the remaining bankruptcy assets into cash and submit a proposal for the termination of the bankruptcy procedure to the CBCG Council as soon as possible.

The Council considered and unanimously determined that the conditions laid down in Article 53 of the Central Bank of Montenegro Law for the removal from office of the member of the Council, Vice-Governor, Irena Radović, were fulfilled before the expiry of the term and submitted to the Parliament of Montenegro a proposal for her removal.

 

 

 

 

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