Eight out of eleven banks incur loses
10.08.2009
Central Bank of Montenegro announced that eight out of 11 business banks in Montenegro have incurred business losses, reports BETA news agency.
In the first half of 2009, only Nova Ljubljanska Banka Montenegro Banka (NLB), Opportunity Bank, and Invest Bank realized a profit. The highest profit, around EUR 550,000, which is less than in the same period in 2008, was made by NLB Montenegro Bank. The Montenegrin Commercial Bank noted the greatest losses, over EUR 15 million.
Among losing banks, "the best one" is Atlas Mont Bank, with EUR 549,000 in business losses. Niksicka First Bank, which used to be the only bank that received government credit to overcome business difficulties, is not among the banks with the highest losses. Its business losses amount to EUR 1.8 million, which is less than that of Podgoricka Bank Societe Generale, and Hypo Alpe Adria Bank.
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