New request from Zeren Group to open a bank in Montenegro

The Turkish group withdrew its application last year because the Central Bank asked it to supplement its documentation.

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From an earlier meeting between the Zeren Group and the Central Bank of Montenegro, Photo: igor sljivancanin/cbcg.me
From an earlier meeting between the Zeren Group and the Central Bank of Montenegro, Photo: igor sljivancanin/cbcg.me
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

Zeren Group has once again submitted a request to the Central Bank (CBCG) to establish a bank in Montenegro, it was officially confirmed to "Vijesti" by this Turkish group.

This group first submitted this request on March 15th last year, but temporarily withdrew it in September last year because the Central Bank of Montenegro requested additional documentation, or, as previously stated by this group, it was required to submit consolidated financial statements prepared by one of the four largest auditing firms.

"Zeren Group has officially submitted an application to establish a bank in Montenegro, confirming its long-term commitment to investments and the implementation of initiated projects in Montenegro. The application submission process was carried out in full accordance with regulatory requirements, with the support of one of the four largest global audit firms. We are confident that our bank, as a highly digitized financial institution focused on citizens and the economy, will significantly contribute to the stability of the banking sector and achieve long-term positive effects on the Montenegrin economy, with a special emphasis on supporting the economy," said the Zeren Group.

They reminded that they are an international group with 50 years of experience, present on four continents, in six countries and eight different industries.

There are currently 11 banks operating in Montenegro.

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