Montenegro's Prva Banka Repays 44 Mln Euro Government Loan

The privately held bank repaid from March 13 to October 7 this year its entire obligation on the credit deal with the government signed on December 17, 2008, the ministry said in a statement late on Friday.

The loan helped Prva Banka overcome a liquidity shortage. Has the bank failed to repay the loan, it would have gone into state ownership.

Businessman Aco Djukanovic, brother of Montenegro's Prime Minister Milo Djukanovic, owns 46.4% of Prva Banka. Majority state-owned power monopoly EPCG has a 18.24% stake, Croatian online news agency, www.bankamagazine.hr, reported earlier this year.

($=0.6699 euro)