Meeting of Governor Žugić with the Management of the Societe Generale Montenegro Bank

14/06/2018

Governor of the Central Bank of Montenegro, Mr Radoje Žugić, met today with the Management of Societe Generale Montenegro Bank, Mr Milorad Katnić, President of the Board of Directors, Mr Miroslav Hiršl, Chief Executive Officer and Mr Radule Raonić, Executive Director for Commercial Affairs.

Representatives of the SGME Bank introduced the Governor with the business results and future plans of the group, as well as with planned changes in corporate governance.

In the first four months of the current year, the SGME Bank generated a profit of 4.2 million euros. According to the level of total loans, this Bank is the leader in relation to the other banks operating in Montenegro, while in the second position, when it comes to the amount of total assets and deposits. The level of NPLs in this Bank is below the average at the system level.

The SGME Bank representatives informed the Governor about planned personnel changes within the Bank. Namely, due to the transfer of Mr. Hiršl on the new position within the Societe Generale Group, Mr Radule Raonić, current Executive Director of Commercial Affairs, shall be nominated as new Chief Executive Officer of the SGME.

Governor Žugić expressed satisfaction with the presented results confirming that this Bank stands out as one of the leaders at the banking market of Montenegro.

It is agreed that the cooperation between the SGME and the CBCG will continue, with the aim of further strengthening of the stability and security of the system, with a full implementation of banking standards.