Montenegrin Banks To Undergo Stress Tests by End-’09 – Media

The Montenegrin central bank has already launched the relevant procedure and the findings could be available by the end of the year, local daily Vijesti (www.vijesti.cg.yu) reported, not naming its source.

The changing factors against which the condition of the banks will be tested have not been disclosed but jobless rate, gross domestic product and inflation are expected to be among them, Vijesti said.

Vijesti said Montenegro’s neighbour Serbia is also preparing to test the health of the 16 largest of its 34 banks in the third quarter but the results will not be made public.

Only three of Montenegro's 11 commercial banks were profitable in the first half of 2009.