The Montenegrin Commercial Bank (CKB) is contributing to the development of Montenegro’s financial system through various aspects, including the introduction of innovations and the application of best European practices and standards in green financing, stated Irena Radović, the Governor of the Central Bank of Montenegro (CBCG).
During a meeting with László Wolf, Deputy CEO of OTP Group, Igor Noveljić, a member of the Supervisory Board, and Tamaš Kamaraši, Chairman of CKB’s Management Board, it was noted that positive business indicators from CKB, the largest bank in the Montenegrin market, help preserve the stability of Montenegro’s financial system.
Radović emphasized that as part of the OTP Group, one of the leading banking groups in Central and Eastern Europe with a stable capital position and solid financial performance, CKB plays a crucial role in advancing the Montenegrin financial system by introducing innovations and adhering to the best European practices and green financing standards.
The meeting also addressed preparations for Montenegro’s accession to the SEPA (Single Euro Payments Area) system, which is expected to significantly reduce costs for Montenegrin citizens and businesses conducting international transactions while improving the efficiency and speed of these payments.
Wolf highlighted that CKB has mobilized all its resources to meet the technical requirements for joining the SEPA network as quickly as possible, recognizing the strategic importance of this initiative.
He added that OTP Group would provide the necessary support during this process, leveraging its experience in implementing SEPA standards.
Radović expressed her expectation that CKB’s commitment to this task would set a standard for the entire banking sector in Montenegro and accelerate the country’s integration into the SEPA system.
“In the coming months, the CBCG will be available to all banks, providing the necessary support to ensure this process is completed as swiftly as possible, with a priority on the quality and thoroughness of executing all technical and procedural requirements,” said Radović.
The participants agreed that ongoing collaboration between regulators and banks is crucial for further strengthening the resilience of the banking system, maintaining financial stability and supporting strategic development projects in the country.
