Asked if it had controlled the bank since it was majority-owned by businessmen from Greece which is shaken by the debt crisis, the CBCG communicated that they control the entire banking system in Montenegro, including the Universal Capital Bank, within the framework of their supervisory activities.
“The bank was founded by the Greek capital, but after the withdrawal of the majority owner Victor Restis, the ownership was transferred to the Podgorica-based Sigma Group Holding owned by Petros Stathis. Mr Stathis is a Greek citizen, but also has Montenegrin citizenship, therefore the CBCG treats the bank as a domestic one after the ownership change,” the CBCG explained.
As they added, since the Universal Capital Bank did not have any deposits in Greek banks, the Greek crisis might not have any significant influence on its business.
The CBCG stated that during the previous year, the share of net foreign direct investments from Greece to Montenegro had been less than 1‰ of the total inflow, so it was not expected to have a direct negative impact.
Greece submitted a new package of measures which was in line with the requirements of international creditors to increase taxes and reduce public expense on pensions, and in return, Athens expected to get €53.5 billion bailout.
“By this proposal, the Greek people and the Greek Government confirmed their commitment to finishing reforms that would ensure Greece’s membership in the eurozone and getting out from the economic crisis. The Greek Government has been committed to fully implement all of the proposed reforms,” the Greek Prime Minister, Alexis Tsipras, stated in a letter to Brussels with a list of reforms.
