Governor Žugić meets CKB representatives


Governor of the Central Bank of Montenegro (CBCG), Mr. Radoje Žugić, and his associates met today with the CEO of Crnogorska komercijalna banka (CKB), Mr. Pal Kovács.

During the meeting, they discussed the impact of the COVID-19 virus pandemic on the banking system operations and on the activities of CKB Bank concerning the merger with Podgorička banka, which is in its 100% ownership.

Governor Žugić and Mr. Kovács agreed that the banking sector had adequately responded to the crisis by providing support to natural persons and legal entities whose financial situation was jeopardized by the COVID-19 virus pandemic impact. They also stated that, in the environment of increased uncertainty caused by the pandemic, the CBCG carefully and cautiously defined support measures, considering all risks to the banking sector, especially liquidity risk. The result of such action was the preserved stability and liquidity of the banking sector and enabling the economy and citizens to cope with the adverse consequences of the crisis efficiently.

They also announced that the level of deposits in CKB was higher compared to year-on-year, and stated that liquidity risk management was facilitated for all banks supported by their foreign parent banks.

Governor Žugić emphasized the importance of banks’ systemic support to the real sector, which is crucial for companies in the tourism industry, as well as for projects carried out by micro, small and medium enterprises.

The CEO of CKB announced that the bank was actively implementing the previously determined measures and plans for the merger with Podgorička banka.

The interlocutors agreed to continue coordination and communication concerning future activities.