Meeting with the Management of OTP Group and Crnogorska komercijalna banka
25/07/2019
Governor of the Central Bank of Montenegro, Mr. Radoje Žugić and his team met today the Management of OTP Group and of Crnogorska komercijalna banka led by Mr. Sandor Csanyi, the President and the CEO of OTP group.
The topic of the meeting was the acquisition of Societe Generale Bank Montenegro AD by the OTP group and the further integration process.
It was assessed that this acquisition showed strong commitment of the OTP group to the Montenegrin banking market. This acquisition, in addition to recorded operating results, confirms that the OTP is also a very important entity at the international banking market. As President Csanyi noted, the OTP Group recorded the profit of over billion euros during the last year, while the stress testing scenario conducted by the European Central Bank ranked the Group at the prominent 9th position, classifying it into the group of the most sound banks in Europe.
Governor Žugić express the satisfaction with the plan of OTP on further acquisition procedure, particularly in the segment of improving service quality to clients, and the project financing aimed at valuing the resources available in Montenegro. “Project financing announced by OTP Group, with continuous strengthening of Montenegro’s banking system, will expand the economic base, strengthen fiscal sustainability, and contribute to the financial and macroeconomic stability and, moreover, the domestic economy’s growth”, pointed Governor Žugić.
During the meeting, the interlocutors agreed to continue cooperation on accomplishing joint objectives, particularly those related to further strengthening of the banking sector and financial stability, and providing contribution to speeding up the economic growth.