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BANKS EEA

Acquiring a bank

Acquiring a bank is complicated transaction. It involves all the processes of acquisition including receiving financial regulatory approvals.
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  • MONTENEGRO

    Inhabitants - 657,394 (July 2011)

    Language - Serbian 63.6%, Montenegrin (official) 22%, Bosnian 5.5%, Albanian 5.3%, unspecified (includes Croatian) 3.7% (2003 census)

    Currency - EUR

    Religion - Orthodox 74.2%, Muslim 17.7%, Catholic 3.5%, other 0.6%, unspecified 3%, atheist 1% (2003 census

    Politics - Politics of Montenegro (Montenegrin: Политика Црне Горе, Tr. Politika Crne Gore) take placeunder the framework of a parliamentary, representative and democratic republic, wherein the Prime Minister of Montenegro is the head of government, and it has a multi-party system. Executive power is exercised by the government. Legislative power is vested in both the government and the Parliament of Montenegro. The judiciary is independent of the executive and the legislature.

  • Major industries - steelmaking, aluminium, agricultural processing, consumer goods, tourism

    Banks (2010)  - 11 banks; 188 branches; 2,290 employees; assets – EUR 2,90 billion; loans – EUR 2,20 billion; deposits – EUR 1,79 billion.

    Banking regulations - The Central Bank of Montenegro is responsible for bank supervision in the country. The focus of the Central Bank of Montenegro is on the strengthening of the regulatory and supervisory functions to serve as a guarantee for the implementation of international standards and EU directives. The Montenegrin supervisory model is based on risk management, with the main objective being the creation of an effective and efficient process of monitoring and assessing the safety and soundness of banks on an ongoing basis. The results of on-site bank examinations enable the Central Bank to get an insight into the risk profile of every individual bank. The resulting examination reports provide an assessment of overall banking risks and their effects. The minimuma capital requirements to set up a bank is EUR 5 million.