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Nov 09, 2009 19:08 EEST
PODGORICA (Montenegro), November 9 (SeeNews) – Montenegro’s fourth largest bank by assets, NLB Montenegrobanka, said its net profit fell to 701,000 euro ($1.05 million) in the first nine months of 2009 from 2.2 million euro a year earlier.
NLB Montenegro’s assets totalled 495.4 million euro at the end of September, up from 468 million euro a year earlier. There were 11 active banks in Montenegro a country of some 700,000 people, in the January-September period, with the top two by assets being Crnogorska Komercijalna Banka (CKB) and Prva Banka Crna Gora.
NLB Montenegrobanka is majority-owned by Slovenian banking group Nova Ljubljanska Banka (NLB). NLB acquired Montenegrobanka in 2003 and renamed it to NLB Montenegrobanka. In April 2005, NLB bought another Montenegrin bank, Euromarket Banka, and merged the two on January 1, 2006.
Following are details from NLB Montenegrobanka's report to the country's central bank (in millions of euro):
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