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IMF regular annual visit of the UBCG

03.11.2021 During the regular annual visit of the UBCG, the International Monetary Fund Mission organized and held a meeting in virtual format with UBCG representatives on the state of the economy, prospects and policies within the regular consultations under Article IV of the Fund’s Statute. The members of the Mission are the Head of the IMF Team for Montenegro, Mr. Srikant Seshadri, Ms. Stephania Eble, Ms. Gohar Minasyan, Mr. Alex Pienkowski, Ms. Yen MOOI, Mr. Vincent Tang and Mr. Carlos Acosta. On behalf of the Association were Mr. Esad Zaimović CEO of Hipotekarna banka and Secretary General of UBCG Mr. Bratislav Pejaković. Available data on the situation and indicators of the banking system are presented, where the existing results of asset growth of 12.5%, lending activity of 10.7% and deposit growth of 18.3% as a historical maximum, with no alarming growth of bad loans, indicate confidence clients, timeliness and optimality of the Regulator’s measures and optimal response of commercial banks to the challenges imposed by the pandemic.

It was pointed out that despite all the difficulties, pandemics, moratoriums, measures introduced by the Regulator in the crisis period, we still have successfully implemented AQR, but also preparation for the implementation of the Law on Credit Institutions, and the implementation of BAZEL III, the Law on Bank Rehabilitation as a new buffer in managing the risks arising from banking activities, we also have the implementation of new corporate rules in the area of ​​management in banks …