NewsThere are 79 millionaires in Montenegro

There are 79 millionaires in Montenegro

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On the last day of September, there were 79 millionaires in Montenegro, and the richest among them is a Ukrainian who has EUR 34.5 million in Montenegrin banks, the Central Bank (CBCG) announced.

An Indian citizen who deposited 34.1 million in accounts in Montenegro has slightly less money than the Ukrainian. These are currently the two largest deposits of citizens in domestic banks, writes Pobjeda.

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The Supreme Monetary Institution does not disclose the names of the account holders because they are prevented from doing so by Article 84 of the Law on Banks, which treats this information as a business secret.

Of the 79 millionaires, 22 are Montenegrin citizens, while 57 of them are foreigners. At the end of September, 79 of them had a total of EUR 280 million in their accounts.

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– This is 12.3% of total household deposits, which at the end of September amounted to EUR 2.28 billion – said the CBCG.

When it comes to the structure of millionaire deposits, only four depositors have more than EUR 10 million in their accounts.

– 71 of them have deposits between one and five million, four between five and ten million and four depositors have deposits over ten million – the CBCG specified.

According to the data submitted by the banks to the CBCG on September 30, 252 companies had deposits of more than one million EUR. The largest single deposit was held by a company with EUR 51.3 million.

CBCG does not announce the activity of companies with millions of deposits.

It is certain that the number of millionaires in Montenegro is increasing, since in June of last year there were 58, which is 21 less. The largest individual deposit of citizens at that time was EUR 25.2 million and also belonged to a foreigner. Neither then, nor today, there were no billionaires in Montenegro.

A year earlier, 63 citizens had a savings deposit exceeding millions, and the richest among them was a non-resident whose account amounted to EUR 9.7 million. At the beginning of 2019, there were 77 millionaires, and 64 in 2018.

Deposits in domestic banks have been at a historic high for a long time, and at the end of September they amounted to almost five billion EUR. Of that, citizens’ savings were EUR 2.28 billion, and companies’ savings were EUR 2.64 billion.

In nine months of this year, total deposits increased by EUR 765.1 million or 18.21%. Domestic citizens saved EUR 155.1 million since the end of last year, while foreigners withdrew part of their money, so their deposits fell by EUR 30.7 million or 4.14%.

At the same time, company deposits increased by EUR 625 million, or by a third.

The majority of deposits in one of the 11 banks in Montenegro are so-called demand deposits, which can be withdrawn at any time. They amount to EUR 3.88 billion, which is 78.2% of the total. EUR 881.2 million has been scheduled, while EUR 200 million is in the escrow account, local media writes.
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