Podgorica, (MINA-BUSINESS) – Director of the Deposit Protection Fund Predrag Markovic has said that the Fund has €100 million currently available in liquid assets, which is sufficient for payment of guaranteed deposits in the event of Atlas Bank’s bankruptcy.
He said at a meeting of the Parliament’s Economy, Finance and Budget Committee that the guaranteed deposits with Atlas Bank amounted to approximately €93.5 million.
“The liquid assets we currently have available amount to €100 million, and we can access another €30 million if necessary from the credit line of the European Bank for Reconstruction and Development (EBRD),” Markovic said at a consultative hearing focusing on the Fund’s functioning after the introduction of bankruptcy proceedings for Invest Bank Montenegro (IBM).
According to him, the Fund has enough assets to cover the guaranteed deposits even without borrowing money from the EBRD.
“There is no doubt that the Fund will be able to raise to the challenge,” said Markovic. Longer version of article is available on a link MINA ENGLISH SERVIS