The Central Bank of Montenegro (CBCG) reported a net profit of €12.2 million for 2024, according to its Financial Statements adopted at session of the CBCG Council, chaired by Governor Irena Radović.
As outlined in the Council’s newly adopted Decision on Profit Distribution, €4.9 million will be transferred to the state budget, while the remaining profit will be allocated to CBCG’s general and special reserves. This distribution supports state budget liquidity, strengthens CBCG’s financial position, and ensures funding for key strategic initiatives—such as the implementation of an instant payment system in Montenegro.
The financial results were confirmed by an independent external auditor, who issued an unqualified opinion, affirming that the financial statements fairly and accurately present the financial position, performance, and cash flows of CBCG as of December 31, 2024, in accordance with International Financial Reporting Standards (IFRS). For the fourth consecutive year, the auditor issued no recommendations, highlighting CBCG’s consistent financial quality and transparency.
At the same session, the Council also adopted the draft Law on Amendments to the Law on Bank Bankruptcy and Liquidation, prepared by CBCG’s expert team. These changes aim to further align national legislation with European Union regulations, particularly in relation to Chapter 9 – Financial Services. The proposed amendments enhance bank resolution procedures and harmonize them with EU regulatory practices.
The Council also reviewed the Annual Report on Payment System Oversight for 2024, which noted that CBCG’s payment system had a 99.94% availability rate. The number and value of transactions increased by 7% and 12.9%, respectively, compared to 2023. This high level of efficiency and stability forms a strong foundation for migrating to the ISO 20022 standard and for implementing the upcoming TIPS Clone project.
In addition, the Council adopted the February 2025 CBCG Policy Implementation and Operations Report, Q4 2024 performance reports of banks and non-bank institutions, and annual reports on bankruptcy proceedings for Atlas Bank and Invest Bank Montenegro. Other ongoing issues were also discussed.
