Montenegro's CKB 2023 after-tax profit surges to 55 mln euro

Net interest income rose 43% to 29.7 billion forints in 2023, whereas net revenue from commissions and fees increased 10% to 7.8 billion forints, OTP said in its full-year financial report published on Monday.

The volume of gross customer loans added 1% on the year to 452.5 billion forints at the end of 2023, while customer deposits declined 1% to 520.2 billion forints in the period under review.

Total assets were unchanged at some 664 billion forints at end-2023.

CKB was Montenegro's largest bank in terms of assets among 11 lenders active at the end of last year, central bank figures showed on March 12.

In July 2019, CKB completed the acquisition of a 90.55% stake in Societe Generale Banka Montenegro for 35.6 million euro and renamed the lender to Podgoricka Banka. CKB completed the integration of Podgoricka Banka in December 2020.

(1 euro = 396.582 Hungarian forints)