Montenegro’s Podgoricka Banka 9-mo net profit declines - table

The bank's net interest income came in at 16.9 million euro, up 8.3%, while net fee and commission income fell 18.6% to 1.8 million euro, according to the financial statement of Podgoricka Banka, posted on the website of Montenegro's central bank.

Crnogorska Komercijalna Banka, the Montenegrin unit of Hungarian financial services group OTP, changed the name of Societe Generale Banka Montenegro to Podgoricka Banka in July. Earlier in July, Crnogorska Komercijalna Banka completed the acquisition of a 90.55% stake in Societe Generale Banka Montenegro for 35.6 million euro and said it plans to soon launch a buyout bid for the 9.4% stake it still does not own.

The bank's loan portfolio amounted to 413.1 million euro, while deposits totalled 378.7 million euro at the end of September, the group financial statement of Podgoricka Banka shows.

Following are details on Podgoricka Banka's performance (in millions of euro):

($ = 0.903528 euro)