Podgorica, (MINA-BUSINESS) – Governor of the Central Bank of Montenegro (CBCG) Irena Radovic believes that there is strong confidence in the banking sector in Montenegro, with its indicators steadily rising, providing a solid foundation for supporting continued economic growth.

In an interview with Mina-business, Radovic said that she was proud of all indicators of the banking sector, which were on a steady upward trajectory.

“All key balance sheet positions saw very strong year-on-year growth as at the end of March. Bank assets reached €7.18 billion, an increase of over 8 percent, while loans and receivables amounted to €4.9 billion, up by 14 percent. All this points to very strong credit activity and confidence in the Montenegrin banking system,” said Radovic.

She noted a significant decrease in non-performing loans, now at 3.16 percent, the lowest historical level, especially in an environment of increasing uncertainty.

“Deposits stand at €5.63 billion, while bank capital has increased by a full 13 percent, reaching €926 million,” added Radovic.

She stated that capital adequacy was at a very high level of 19.6 percent, well above the legal threshold of 8 percent.

“I believe these indicators of financial health are very encouraging and provide a strong basis for supporting further economic growth in Montenegro,” Radovic stated.