CBCG and CKB Meeting: Strengthening the Stability and Modernisation of Montenegro`s Financial; Market
18/10/2024
The Central Bank of Montenegro Governor, Ms. Irena Radović, met today with the Deputy Chief Executive Officer of the OTP Group, Mr. Laslo Wolf, a member of the CKB Bank Supervisory Board, Mr. Igor Noveljić, and the Chairman of the CKB Board of Directors, Mr Tamás Kamarási.
It was highlighted that the positive performance indicators of CKB Bank, as the largest bank on the Montenegrin market, have contributed to the preservation of stability of the financial system of Montenegro.
“As a part of the OTP Group, one of the leading banking groups in the region of Central and Eastern Europe with a stable capital position and good financial indicators, CKB bank has contributed to the development of Montenegro`s financial system through several aspects such as the introduction of innovations and the application of best European practices and standards of green financing”, the Governor Radović noted.
The meeting participants also discussed Montenegro`s preparations for the integration into the SEPA, which will significantly reduce the costs of Montenegrin citizens and businesses in international transactions and also improve the efficiency and speed of these payments.
“Recognizing the strategic importance of this initiative, CKB Bank has engaged all its capacities with a view to meeting the technical requirements for connecting to the SEPA network as soon as possible,” said Mr. Wolf, adding that the OTP group will provide the necessary support to the bank in this process given its experience in the implementation of SEPA standards.
The Governor expressed her expectation that CKB Bank`s commitment to this task will set a standard for the entire banking sector in Montenegro and contribute to the acceleration of the process of Montenegro`s integration into the SEPA system. “In the coming months, the CBCG will be at disposal to all banks and it will provide them with the necessary support to complete this process in the shortest time possible, and the quality and thoroughness of the execution of all technical and procedural requirements will be made a priority,” the Governor highlighted.
The meeting participants agreed that continuous cooperation between the regulator and banks is of great importance for further strengthening of the banking system resilience and preservation of financial stability, as well as for supporting strategic development projects in the country.