English

Žugić with Kovač: Response of the banking sector was efficient

Governor of the Central Bank of Montenegro, Mr Radoje Žugić, met today with the CEO of the Montenegrin Commercial Bank, Mr Pal Kovač.

They discussed impact of the coronavirus pandemic on the activities of the banking system and activities Montenegrin Commercial Bank is taking to merge with Podgorička bank.

Mr Žugić and Mr Kovač agreed that banking sector had responded efficiently to the crisis, providing support for physical persons and legal entities.

It was stated that Central Bank had defined support measures carefully and took all risks into account. As a result, banking sector has maintained stability and liquidity.

Level of deposit of the Montenegrin Commercial Bank is higher than last year and it was stated that liquidity risk management had been made easier for all banks supported by parent banks abroad.

Mr Žugić emphasized the importance of the system support for the real sector, which is especially important for the companies in the area of tourism.

Mr Kovać said that his bank was actively implementing measures and plans for merging with Podgorička bank.

 

Send this to a friend