NLB Banka Podgorica

NLB Banka Podgorica (full name: NLB Banka a.d. Podgorica) is a bank operating in Montenegro, based in Podgorica. Its parent is the Ljubljana-based NLB Group, which absorbed Montenegrobanka in 2003, Euromarket Banka in 2006, and Komercijalna Banka Budva in 2021.

History

NLB won the privatization process for Montenegrobanka in June 2003, thus becoming the largest bank in Montenegro. It also absorbed Euromarket Banka in 2006.

Separately, Belgrade-based Komercijalna Banka established Komercijalna Banka Budva in November 2002, which received a banking license in 2003 from the Central Bank of Montenegro.

On 26 February 2020, the government of Serbia signed a purchase agreement worth 387 million euros with NLB for 83.23% of shares in Komercijalna Banka, following which NLB Banka Podgorica fully absorbed Komercijalna Banka Budva on 14 November 2021. Since then, NLB Banka has been the second-largest bank in Montenegro.

Despite the historical discontinuity, NLB Banka Podgorica portrays itself as the continuating entity of the Bank of Montenegro, established in 1906.

See also

List of banks in Montenegro

References

External links