---

07/12/2018

We hereby inform the public that the Central Bank of Montenegro has passed a decision today to introduce interim administration in Atlas bank, and a decision on introducing interim administration in IMB bank.

The decisions were passed on the basis of supervision findings that revealed that the capital of these banks did not correspond to the level of their business risk. 

Taking into account the established facts and aiming to protect the interests of depositors and prevent further deterioration of financial position of Atlas bank and IBM bank, the Central Bank of Montenegro acted in accordance with the Banking Law and passed decisions on introducing interim administration in these banks.

The employees of the Central Bank of Montenegro with longstanding experience in banking supervision have been appointed the interim administrators in these banks. 

Please note that interim administration is one of the corrective measures taken by the Central Bank in line with the Banking Law and it aims to create conditions for eliminating identified irregularities and improving the financial situation in these banks. We expect the forthcoming interim administration measures to contribute to improving the situation in both Atlas bank and IBM bank.