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13/04/2018

The Governor of the Central Bank of Montenegro, Radoje Žugić met today with Krzysztof Grzesik, the Chairman of the European Group of Valuers' Associations TEGoVA. The meeting was also attended by the president of the National Association of Valuers of Serbia, Danijela Ilić, who is a member of the Board of Directors of TEGoVA and the European Valuation Practice and Methodology Board of TEGoVA, and Milan Mirković, president of the National Association of Valuers of Montenegro.

Chairman Grzesik is staying in Montenegro to take part in the conference “European Valuation Standards (EVS) and the Banking Sector”, which takes place today at Hotel Hilton, organised by the National Association of Valuers of Montenegro and the Association of Montenegrin Banks.

The European Valuation Standards (EVS) and their application in the banking system were discussed at the meeting. Chairman Grzesik pointed out that the European Central Bank recommends the application of EVS in valuating banks’ collaterals, adding that the implementation of these standards contributes to the safety and security of the real estate market as well as of mortgage loans.

Governor Žugić highlighted that adequate valuation of property contributes to financial system stability. Taking that into account, as well as the fact that ensuring reliable valuation standards for mortgage purposes represents one of the country’s obligations in the European integration process, the Governor stated that, in the upcoming period, the CBCG will focus on further development of this segment and consider the possibility of cooperation with the European Group of Valuers' Associations.

TEGoVA is a non-profit making association composed of 71 valuers' associations from 37 countries..