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16/05/2019

On 27 March 2019, Crnogorska komercijalna banka AD Podgorica (CKB) submitted to the Central Bank of Montenegro a request for granting an approval to acquire qualified participation of 90.5578% in the share capital of Societe Generale Bank Montenegro AD (SGMNE). 

Based on the submitted documentation, together with additionally provided information and data, as well as the approval of the Agency for Protection of Competition, it has been established that the prescribed conditions for granting an approval for acquiring qualified participation from Article 11 of the Banking Law have been met and that there are no obstacles to grant this approval in line with Article 12 of the Banking Law.

On 16 May 2019, the Central Bank has accordingly granted an approval to CKB for acquiring qualified participation in the share capital of SGMNE.