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Slovenia Business Week no. 31: NLB to Become the Biggest Montenegrin Financial Institution

Nova Ljubljanska banka (NLB), the owner of Montenegrin Montenegrobanka and Euromarket banka, is planning to merge both banks at the end of 2005 to become the biggest financial institution in the country

Nova Ljubljanska banka (NLB), the owner of Montenegrin Montenegrobanka and Euromarket banka, is planning to merge both banks at the end of 2005 to become the biggest financial institution in the country, the NLB said in a press release on Thursday, 28 July.

In the run-up to the merger, a new Montenegrobanka office building was inaugurated in Podgorica, with the attendance of business partners, major clients as well as Montenegrin PM Milo Djukanovic and Deputy PM Branimir Gvozdenovic.

According to Ranko Nikolic, director of Montenegrobanka, the bank's membership in the NLB group is a great competitive advantage. "Montenegrobanka is active in financing the development of Montenegrin companies. After the merger with the Euromarket banka, it will be even more successful," Nikolic was quoted by the NLB as saying.

Source: Slovene Press Agency STA

Author: STA