Awards for Excellence country winners – Montenegro

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Awards for Excellence country winners – Montenegro

Best bank: NLB Banka

NLB Banka is Montenegro’s best bank, having demonstrated strong growth and development last year, which in turn contributed to its record bottom line.

To the end of December 2023, the bank generated €27 million in net profit – up 23% on 2022 – driven in the main by a 36% rise in net interest income and 17% rise in net fees and commissions.

Underpinning the rise in net interest income were higher rates and sizeable growth in its loan book, which in total expanded by 9% or €50 million last year.

Supporting this growth was expansion in NLB Banks’s customer base, with retail up 4% year on year, corporate up 40% and small and medium-sized enterprises up by less than 1%.

In addition, the bank, led by Martin Leberle, president of the management board, enhanced its products and services, especially in its digital offering, and expanded its sustainable finance range.

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