Montenegro hosts 38th meeting of EBF Associates


The Association of Montenegrin Banks hosted the 38th meeting of the EBF Associates which was held in the beautiful city of Budva on 30 May 2014.

The meeting was attended by representatives from the Executive Committee and the Associates members. It gathered banking associations from Albania, Austria, Bosnia and Herzegovina, Czech Republic, France, Netherlands, Croatia, Lithuania, Hungary, Macedonia, Poland, Russia, San Marino, Serbia, Turkey and the host country of Montenegro.

Participants were addressed by the Governor of the Central Bank of Montenegro, Mr. Dakic, who informed them about the process of accession of Montenegro to the European Union, and more particularly on the legislation regulating the banking sector. The Governor also addressed the issue of non-performing loans in Montenegro. To tackle that issue, the central bank, together with the Ministry of Finance and the World Bank, launched the project ‘Podgorica Approach’, which specifically emphasizes the importance of passing a law on voluntary financial restructuring. He went on to explain how 2013 was the year of economic recovery in Montenegro as it emerged from recession and recorded growth in all areas of banking operations. Today, the banking system in Montenegro is stable, liquid and solvent, he said.

Mirko Radonjic, Secretary General of the Association of Montenegrin Banks, told participants about the situation in the banking sector in Montenegro. He pointed out that the banking sector achieved significant growth in assets, deposits, loans and capital and emphasized that after a long period of time, the banking sector ended the year 2013 with a positive result.

The meeting continued with discussions on the latest developments in the banking sector in the EU and the countries of the region, recent amendments to the EU acquis, the impact of EU elections on the EU banking sector, as well as the issue of money laundering.

This annual Associates meeting abroad is also the opportunity for EBF members to strengthen existing relations with the EBF Fellows (former Executive Committee members). That group of ‘wise men’ seize this opportunity to organize a panel discussion the day after the meeting on the issue of proportionality in banking regulation. Introduced by Bernd Brabander, the fruitful dialogue opened the door to a lively discussion on banks reaction to existing and future legislation.


The next meeting will be held in Brussels in December.


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