Central Bank Realized a Profit of 3.57 Million Euro

By , 12 Apr 2019, 11:30 AM Business
Central Bank Montenegro CBCG Central Bank Montenegro CBCG Luka Zekovic

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The Central Bank announced that it made a profit of about 3.57 million euros last year, which is 37 percent more than in the previous year.

"CBCG Council made a decision on the distribution of profits for 2018 and the decision to increase the bank's core capital," it was announced by the Supreme Monetary Institute, but details of these two decisions are not specified. On Friday, the Council adopted the CBCG financial report for the past year with a report from an independent auditor that provided a positive opinion on the business.

"The independent auditor assessed that the financial statements present a true and objective financial position of the CBCG, as well as the results of its operations and cash flows in accordance with international standards. The external auditor had no recommendations in the part of the CBCG's financial operations that would address the shortcomings in the internal control system," the CBCG said.

According to the financial statements, the total realized revenues of the CBCG were EUR 16.7 million and 17% higher than the plan. The CBCG said that in the previous two years it did not increase the tariffs it charges for its services, which confirms that the financial performance for 2018 was successful. They claim that operating costs confirm rational business and that total staff costs kept the same level of 2017.

Text by Marija Mirjacic, on April 9th, 2019, read more at Vijesti

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