English

Central Bank: Vulnerabilities significantly reduced

Meeting at the CBM

The banking sector in Montenegro recorded growth of all key business indicators this year. Vulnerabilities from the previous period have been significantly reduced, said Governor of the Central Bank of Montenegro, Mr. Radoje Žugić, at a meeting with the World Bank’s Country Manager for Bosnia and Herzegovina and Montenegro, Mr. Emanuel Salinas.

The governor stressed the continuous decline in the level of bad loans, as well as the strengthening of lending activities of banks, especially towards the real sector.

The meeting also discussed the possibility of the second part of the budget support program of the World Bank to Montenegro (PBG2), which could be operational in 2019.

Mr. Žugić added that the CBM will implement all activities within the agreed deadlines, primarily relating to the further strengthening of supervision, the improvement of the regulatory framework, the introduction of European standards and the implementation of best practices, and that, in this way, give full contribution to reaching an agreement on the budget support program.

Noting that the World Bank is extremely satisfied with the cooperation with CBM, Mr. Salinas emphasized that this institution made a significant contribution to the process of granting World Bank guarantees to Montenegro, primarily through its activities that contributed to improving the stability and security of the financial system.

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