|Financial Market Development|
|4.2 (max 7.0), 47th out of 138 countries|
|4.3 (max 7.0), 93rd out of 138 countries|
According to World Economic Forum's Global Competitiveness Report 2017-2018, financial market development in Montenegro is scored 4.2 out of maximum 7.0 and ranked 47th out of 138 analysed economies, trustworthiness and confidence of financial market is scored 5.1 (24th place).
Chart 1. Financial Market Development in Montenegro. Source: WEF.
Soundness of banks is scored 4.3 bringing Montenegro into the 93rd place.
Chart 2. Soundness of Banks in Montenegro. Source: WEF.
|Maximum Protected Amount|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in Montenegro are summarised in Table 1.
|Scheme Participants||all credit institutions operating in Montenegro (including branches of foreign banks), branches of Montenegro's banks abroad|
|Eligible Depositors||natural persons, entrepreneurs, legal entities|
|Covered Accounts||all deposit accounts|
|Maximum Protected Amount||50,000 EUR|
|Paid In Currency||EUR|
Table 1. Deposit guarantee scheme in Montenegro.
Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.
|Local Currency (Euro)|
|B2 (highly speculative)|
Foreign currency deposit ceiling for Montenegro is B2 (highly speculative).
|Number of Banks|
|Consolidated Assets (2018)|
|4,406.81 mln EUR (+7.01%)|
Currently there are 14 credit institutions operating in Montenegro.
In 2018 consolidated banking assets in Montenegro were 4,406.81 mln EUR. The consolidated banking assets' evolution is shown at Chart 3 below.
Chart 3. Consolidated banking assets in Montenegro.
All the credit institutions operating in Montenegro can be classified into several categories. Table 2 summarises the number of banks in each category.
|Category||Number of Banks|