Montenegro, banking sector has healthy business parameters

Published on 15. February 2023., News

The banking sector in Montenegro is stable, despite the challenging macroeconomic situation, and has healthy business parameters, said the director of the World Bank (WB) for the Western Balkans, Xiaoqing Yu, at a meeting with the governor of the Central Bank (CBCG), Radoj Žugić.

The meeting was also attended by the head of the World Bank Office for Montenegro and Bosnia and Herzegovina (BiH), Christopher Sheldon.

Žugić, as announced by the CBCG, introduced the interlocutors to the activities that the supreme monetary institution undertakes in order to further strengthen the financial stability of the country, such as continuous improvement of the national regulatory framework, strengthening of supervisory capacities, taking adequate measures aimed at mitigating the consequences of the unfavorable economic situation and encouraging banks on providing support to the domestic economy.

Žugić thanked Yu and Sheldon for the support provided by the CBCG in the form of technical assistance, for activities aimed at the modernization of payment transactions and the preparation of the Law on Digital Assets, as well as for the analysis of the transposition of payment regulations and Montenegro’s readiness to join the SEPA payment system.

“The meeting also discussed the SB Group’s Strategic Partnership Framework for Montenegro for the period from now until 2027, which is aimed at providing support for a more sustainable and inclusive growth of Montenegro,” the announcement concludes.

Download Article as PDF