Serbian entity seeks to buy minority stake in Montenegro’s Prva Banka Crne Gore

The request was submitted on October 27, 2023, and is currently under consideration, the Central Bank of Montenegro, CBCG, said in a statement on Thursday.

No further details were disclosed.

Local media reported in July that Serbia's state-run Banka Postanska Stedionica held talks to acquire a majority stake in Prva Banka Crne Gore.

According to the website of Prva Banka Crne Gore, private individual Aco Djukanovic owns 41.46% of its capital, while state-controlled power utility Elektroprivreda Crne Gore (EPCG) holds 19.75%. The remainder is in the hands of minority shareholders.

Prva Banka Crne Gore turned to a net profit of 62,000 euro ($66,200) in 2022, from a loss of 4.5 million euro in the previous year.

($ = 0.9361 euro)