Zeren Group has submitted a request to open a bank in Montenegro, as confirmed by the Central Bank of Montenegro (CBCG) in a statement to the Bankar portal.
On March 12, 2025, Zeren Group Yatirim Holding A.S. submitted a request to the Central Bank of Montenegro for a license to operate a credit institution in the country. The Central Bank is required to make a decision on the application within 180 days of its submission. If the application is incomplete, the decision must be made within 180 days after the submission of the complete application, CBCG confirmed to Bankar.
Initially, the company submitted the request for the operating license along with the necessary documentation on March 15, 2024, but it was temporarily withdrawn for additional clarifications following negotiations with the Central Bank.
Zeren Group continues to view Montenegro as a significant investment opportunity and hopes for constructive support from decision-makers to successfully realize ongoing projects that are in the best interests of the Montenegrin economy and citizens, the company stated at that time.
Zeren Group is a private company with over 50 years of successful operation in Turkey and six other countries across eight different sectors (finance, construction, IT, energy, etc.), with an annual turnover of over five billion dollars.
Zeren has already established three companies in Montenegro. Zeren Group Investment was founded in July 2020, engaged in trade, with six employees. The company reported a revenue of 4.2 million EUR and a profit of 852,000 EUR last year. Zeren Motors, established in February 2023, deals with automobile trade, and Zeren Food, founded in July 2022, is involved in restaurant services. The director of all three companies is Mustafa Yigit Zeren.
