The Central Bank of Montenegro’s Council adopted the Central Bank’s 2024 annual financial statements and approved the allocation of its 2024 net profit, including a transfer of EUR 4.9 million to the state budget. The remaining profit will be assigned to the Central Bank’s general and special reserves. The financial statements show net profit of EUR 12.2 million in 2024 and received a positive opinion from the independent external auditor under International Financial Reporting Standards, with no recommendations for the fourth consecutive year. The Council also approved a draft law amending the Bank Bankruptcy and Liquidation Law to further align national rules with EU legislation and support obligations under negotiation chapter 9 on Financial Services. In addition, it reviewed the 2024 payment systems oversight report, which reported 99.94% availability for the Central Bank’s payment system and increases of 7% in transaction volumes and 12.9% in transaction values versus 2023, cited as supporting migration to ISO 20022 and implementation of the TIPS Clone project. Other items adopted included the Governor’s report on operations and policy implementation for February 2025, quarterly reports on banks and non-bank institutions for Q4 2024, and annual progress reports on bankruptcy proceedings for Atlas banka AD Podgorica and Invest banka Montenegro AD Podgorica.
Central Bank of Montenegro 2025-04-15
Central Bank of Montenegro approves 2024 financial statements and allocates EUR 4.9 million of profit to the state budget
The Central Bank of Montenegro’s Council approved the 2024 financial statements, allocating EUR 4.9 million of net profit to the state budget and the remainder to reserves. The Council endorsed a draft law to amend the Bank Bankruptcy and Liquidation Law for EU alignment and reviewed a report showing 99.94% payment system availability. It also adopted various operational and progress reports, including those on bankruptcy proceedings for Atlas banka AD Podgorica and Invest banka Montenegro AD Podgorica.