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Meeting of the UBCG Management Bord – New Chairperson elected.

Pursuant to the Articles of Association of the Association of Montenegrin Banks, the meeting of the Management Bord was held on 18 November 2019. The Bord on the asset quality review, tasks, expectations, processed and policy of implementation and it elected the new Chairperson of the UBCG Management Board.

The Association reacted proactively with regard to the challenging AQR process and the conclusion was made that a working group of experts from commercial banks should be organised to follow the process and make useful proposals that facilitate process. The selection of advisers (audit firms) and appraisers who will participate in the process of reviewing the banks’ loan portfolios is very important, where local specifics should be taken into account, including the monitoring of international standards. Experience from the region is important. This includes different methodologies that have been recognized in the practice of AQR in neighboring countries, which have taken as the basis the methodology of the European Central Bank.

Mr. Mladen Rabrenović, Zapad Banka CEO, was elected as Chair of the Association of Montenegrin Banks, by unanimous decision of the present members of the Association.  Mr. Aleksa Lukić, Erste Banka CEO, was elected as Deputy Chair. It is our belief that the new Chair and his alternate will continue the quality work of their predecessor Mr. Zaimović, Hipotekarna Banka CEO, where very good cooperation is emphasized both among the banks, the promotion of the Association, and with institutions important for banking operations, where the Ministry of Finance of Montenegro and the Central Bank of Montenegro stand out as addresses of special importance, as proponents and supervisors of laws and regulations relevant to banking operations.