Podgorica, (MINA-BUSINESS) – The Central Bank (CBCG) says that the Montenegrin banking system is stable and on a positive trajectory, despite the ongoing bankruptcy proceedings for Atlas banka and Invest banka Montenegro (IBM).
The CBCG says in a press release that the banking system, which comprises 13 licensed banks, has very stable performances.
“They are characterized by a solvency index of 17.29 percent as at 31 December, significantly above the required minimum of ten percent,” the CBCG says, adding that the non-performing loans were at the level of 5.04 percent on 28 February.
In a press release issued in response to the media queries about the latest trends in the banking sector, the CBCG says that the deposits have seen a steady growth.
“In a period between 30 November 2018 and 28 February 2019, which is the reporting period before the introduction of interim administrations for IBM and Atlas banka, an upward trend in the level of deposits is evident compared with the previous period,” the CBCG says.
The CBCG says that some media outlets and analysts interpret the data on total deposits and liquid assets incorrectly, without taking into consideration the seasonal and cyclic effects, while comparing incomparable data related to a different number of banks in the system.
At the end of February, the total deposits with 13 banks increased by 2.75 percent compared with the end of November and by 2.22 percent compared with January 2019.
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