Council of the Central Bank of Montenegro held its 53rd meeting
12/11/2019
The Council of the Central Bank of Montenegro (CBCG) held its 53rd meeting today chaired by the Governor, Mr. Radoje Žugić.
At today’s meeting, the Council discussed and adopted the Reports on the Central Bank of Montenegro Business Activities and Policy Implementation for August and September 2019. These Reports indicate that the activities of the Central Bank during these reporting periods were implemented in line with planned commitments stated in the Central Bank Work Programme for 2019.
At the meeting held today, the Council adopted the Central Bank of Montenegro Policy in 2020. This document defines the guidelines for primary activities of the CBCG in the upcoming year, stemming from the obligations defined in the Central Bank of Montenegro Law. The Policy of the Central Bank contains the objectives for operations and measures for their implementation.
The Council also discussed the Quarterly Report on Banks’ Operations as at 30 September 2019. The Report points to continued positive trends in the banking system in Q3 2019. Relative to the previous quarter, assets increased by 6.50% and deposits grew 7.79% (which was over 250 million in nominal terms). At the system level including 13 banks, capital recorded year-on-year increase of almost 100 million or 19.59% while non-performing loans ratio stood at 4.67% as at end-September 2019.
The Bankruptcy Administrator and the President of the Bankruptcy Board presented the Report on Bankruptcy Proceeding in Atlas Bank AD Podgorica for the Period 5 April – 30 September 2019 to Council Members. The Report presents the activities and financial indicators during the bankruptcy proceeding so far.
During the meeting held today, the Council also discussed other current issues from the domain of its competence.