Merger of CKB and Podgorička Banka proceeds as planned

13/12/2019

The Governor of the Central Bank of Montenegro (CBCG), Mr. Radoje Žugić, met today with the CEO of the Crnogorska komercijalna banka (CKB), Mr. Pál Kovacs.

The CEO Kovacs informed the Governor on the results of CKB’s operations in 2019, and on the activities on the merger of this bank with Podgorička banka.

It was stated that the operations of CKB are stable, that it is well capitalised, profitable and highly liquid bank, and that the activities on the merger of banks are proceeding according to the schedule.

Governor Žugić informed that the stability of Montenegro’s banking sector strengthened significantly in 2019. He added that, apart from the implementation of Asset Quality Assessment (AQR), the focus of upcoming activities of the CBCG will be on further strengthening the supervisory function, harmonisation of regulations with the EU directives, and strengthening supervision of the prevention of money laundering and terrorist financing.