Governor Žugić meets a member of the Board of Directors of Lovćen Banka Ernst Welteke

20/12/2019

The Governor of the Central Bank of Montenegro, Mr. Radoje Žugić, met today with a member of the Board of Directors of Lovćen Banka, Mr. Ernst Welteke. During his rich career, Mr. Welteke has also served as President of Bundesbank and a Minister in the Government of the Federal Republic of Germany.

The Governor presented to Mr. Welteke the situation in Montenegro’s banking sector, emphasizing that 2019 was “difficult, but very successful”, as confirmed by the key indicators of the banking sector that recorded the best historical values. The Governor pointed out that the main activity of the CBCG planned for the upcoming year would be the implementation of AQR, i.e. the conducting of an independent assets quality assessment. “Depending on the results of this assessment, and if needed, the CBCG will set requirements for healthier assets, further NPL reductions and capital growth,” Žugić added.

Mr. Welteke briefed the Governor on the further plans of Lovćen Bank, aimed at strengthening its position at the domestic market, and pointed out that the bank will strive to continue contributing to the positive condition of the banking sector in the future.