The Governor Meets the Addiko Bank AD Podgorica Management

11/06/2019

The Governor of the Central Bank of Montenegro, Radoje Žugić, met today with the representatives of Addiko Bank AD Podgorica - Chief Executive Officer, Christoph Schoen and Chief Risk Management and Financial Officer, Rade Bajić.

The Addiko Bank business activities and plans aimed at further improvement of services for clients and additional strengthening of the market position of this financial institution were discussed at the meeting today.

Governor Žugić pointed out that the Addiko Bank business indicators are continually improving and that the Bank is liquid, solvent and profitable. Profit growth is the result of increased revenues and costs rationalisation, said Schoen, announcing that the Group will soon be listed on the Austrian Stock Exchange, whose progress will be regularly reported to the CBCG.

Schoen underlined that the Addiko Bank AD Podgorica has done a significant job in reducing operational risks in the previous period, along with simultaneous innovations related to credit products in retail banking, as well as the ones concerning small and medium-sized enterprises.

Governor Žugić announced that the CBCG has done a risk analysis of not secured by cash collateral loans, at systemic level, and announced that a solution would soon be defined that would limit the risk of these investments. In this way, the CBCG as a competent regulator acts proactively in preserving the stability and safety of the financial system.