English

Montenegrin Commercial Bank and Podgorička Bank – the most powerful players

Foto: CdM

Representatives of the Montenegrin Commercial Bank and Hungarian OTP group have announced that they will be the most powerful players on the market after merging with SGM. They said that they wouldn’t cut the number of branches or number of employees. They want to be reliable partner to the country and the Government.

Photo: CdM

“Complete merging is expected in the second half of 2020. It’s important than clients do not feel any negative impact. The challenge for the new administration will be the need for combining strong teams of the two banks. We are going to have a new operation style. Innovative style. After merging, Montenegro will have much stronger partner”, said CEO of Montenegrin Commercial Bank, Mr Pal Kovač, at the press conference organized on the occasion of the completion of purchasing procedure of SGM.

He added that the employees and clients were most important. The bank is focused on enhancing the clients’ loyalty.

Photo: CdM

“Negotiations on taking over SGM started more than three years ago. Big banks can support the economy of a country”, said Mr Sandor Csanyi, the president and CEO of OTP  Bank whose daughter-bank is operating in Montenegro.

He pointed out that OTP Bank was the biggest bank in Hungary.

“It’s a conservative and modern bank. This region will be growing faster than the rest of Europe and  that’s why we decided to operate here. We are worth more than €11 billion”, said Mr Csanyi.

Mr Pal Kovač said that around 300 experts had been working on this project.

Asked if the interest rate would be redefined, Mr Csanyi said they were analyzing the market. He added that they wouldn’t reduce number of employees and branches.

“We don’t want to reduce capacities that we are going to need in future”, said Mr Csanyi.

Mr Kovač stressed that Podgorička Bank and Montenegrin Commercial Bank had a good range of products.

“We are going to introduce some innovations”, said Mr Kovač without elaborating further.

 

 

Send this to a friend