THE INTERNATIONAL CONGRESS OF THE INSTITUTE OF CERTIFIED ACCOUNTANTS OF MONTENEGRO WAS HELD
26-28.2024. an international congress organized by the Institute of Certified Accountants of Montenegro was held.
The banking sector in Montenegro is the healthiest sector of the Montenegrin economy and has contributed to economic growth, it was announced at the XIX International Congress of Accountants and Auditors of Montenegro
The Vice Governor of the CBCG, Nikola Fabris, pointed to illiquidity, which has been a decades-long problem of the Montenegrin economy. “In the last ten years, we have seen an increase in the number of blocked companies, as many as 32 percent of business entities had blocked accounts at the end of August. The biggest problem with liquidity is the agriculture, mining, energy and processing industry sectors,” said Fabris.
It was announced at the meeting that the capital of banks in Montenegro is around 875 million euros, which is an impressive amount for a small economy like the Montenegrin one. There is an increase in deposits, and the good thing is that there is a decrease in the number of bad loans.
Front of AMB, we pointed out the external, internal risks and the risks of banking operations, which is also reflected in interest rates, where we compete with developed EU countries. Business barriers were also mentioned, as well as the conclusions from the spring meeting of the IMF, where it was pointed out that after the next 2 years of progress, due to the reduction of production and increased borrowing of countries, the discrepancy between the real economy and financial borrowing must have its end. When we talk about bad loans, we indicated that we are satisfied, given that we do not have the financial infrastructure that developed EU countries have. We should be happy about the growth of deposits we have, where the growth of non-resident deposits is also explainable. Which is caused not only by newcomers, but also by non-residents who pay funds through the service of custodian banks in Montenegro, but also attracted by high-quality interest rates on euros.
