The growth of banks' capital at the end of February of 20 percent compared to the same period last year, along with other positive trends in key balance positions, confirms the health and stability of the banking sector, announced the Governor of the Central Bank (CBCG), Irena Radović.
At a meeting with the team of the European Bank for Reconstruction and Development (EBRD), led by the director of financial institutions of the bank Francis Malige, she assessed that the banking sector is stable, highly liquid and well capitalized.
In order to continue positive trends, CBCG focuses its activities on monitoring the application of banking regulation and its further harmonization with relevant EU directives.
Radović said that for the CBCG, cooperation with the EBRD is particularly important in terms of improving access to funding sources, especially for vulnerable categories. The upcoming signing of the Memorandum of Cooperation between the CBCG and the EBRD on the implementation plan of the WE Finance Code project will significantly contribute to this goal.
"It is a global initiative through which financial service providers, regulators, development banks and other actors in the financial ecosystem commit to work together to increase financing of micro, small and medium-sized enterprises managed by women," the statement said.
The meeting also discussed the need to implement reforms and realize investments in the plan of joining Montenegro to the European Union.
Malige stated the readiness of the EBRD to support Montenegro on that path in accordance with the institution's strategic priorities.
"Intensive cooperation was agreed in the field of further improvement of regulations for financial service providers, as well as in the plan of strengthening the role of the CBCG in the process of green transition and implementation of ESG standards in the financial system," the announcement states.
The meeting also discussed concrete initiatives, the implementation of which would unlock new opportunities for sustainable financing and a greener, more resilient future.
On behalf of the EBRD, the director for financial institutions in the Western Balkans and Eastern Europe, Aleksandra Vukosavljević, the head of the Sector for Financial Institutions for Montenegro, Bosnia and Herzegovina, North Macedonia and Serbia Miloš Kosić, the head of the EBRD Office in Montenegro Remon attended the meeting. Zakaria and Selma Demirović, a banker at the EBRD Office in Montenegro.
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