The Turkish company Zeren Group is interested in investments in Montenegro, with a special emphasis on the intention to open a bank, as stated in a meeting between its representatives and the governor of the Central Bank of Montenegro (CBCG), Irena Radović.
Radović met today with the Ambassador of Turkey, Bariş Kalkavan, and representatives of Zeren Group – the owner and CEO of the holding, Mustafa Jigit Zeren, the president of the banking group of Zeren Holding, Jasemin Altunbaş, and the coordinator of Zeren Group for Montenegro, Ismail Erdem Ogutom.
The meeting discussed Zeren Group’s projects and its interest in investing in Montenegro, with a specific focus on the intention to open a bank in our country.
Radović briefed the interlocutors on the current state of the banking sector, emphasizing that it is the most stable part of the financial system. According to the latest data, bank assets increased by 10.4%, loans by 12%, and deposits by 10.6% compared to the same period last year.
“The share of non-performing loans (NPL) in the total continues to decrease. At the end of October, it was 1.32 percentage points lower compared to the same period last year, amounting to 4.82%. The effective active interest rate at the end of October was 6.49%, which is 0.81 percentage points higher than the level in October last year,” Radović stated.
Kalkavan, along with congratulations to Radović on her appointment, announced the continuation of economic cooperation between Turkey and Montenegro and pointed out that the share of Turkish investments in the total investments in the previous period increased by 120 million EUR, of which only Zeren Group’s investments amounted to 80 million.
“We will continue to invest in Montenegro in the coming period,” Kalkavan stated.
Mustafa Jigit Zeren, the CEO of Zeren Holding, expressed the intention for Zeren Group to expand its business in Montenegro to the banking sector.
“We have explored the market, seen that the system is good for investment, and we are ready to realize a long-term project,” said Zeren.
Zeren Group is a company that has been operating successfully in Turkey and six other countries for 50 years in eight different sectors (finance, construction, IT, energy), with the holding’s annual turnover exceeding five billion USD.
