No repercussions for the banking sector

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foto: MINA

Podgorica, (MINA-BUSINESS) – According to the Central Bank (CBCG), the problems faced by Atlas banka and Invest banka Montenegro (IBM) had no repercussions for the banking sector and financial system of Montenegro, which have continued to follow positive trends.

It was concluded at today’s meeting of the CBCG Council that the systemic risks had been at a moderate level last year.

The adopted Report on the Stability of the Financial System in 2018 says that cyclical vulnerabilities of the non-financial sector were mitigated thanks to a high economic growth rate of 4.9 percent.

 

On the other hand, the report still recognizes the level of public debt as a challenge, even through the fiscal consolidation measures have produced positive effects in this field.

“The challenges in the banking sector are related to the level of non-performing loans, although they have seen a steady decrease,” the CBCG says in a press release.

The report says that the resolution of the problems related to the IBM and Atlas banka had no negative effects of the Montenegrin banking sector and financial system, adding that the banks are the most stable segment of the economic system, which is reflected in the quality of their assets and stability of their performance indicators. Longer version of article is available on a link MINA ENGLISH SERVIS