March 13 (SeeNews) - The combined net profit of eleven commercial banks active in Montenegro rose to 146 million euro ($159 million) in 2023, from 83.3 million euro in 2022, central bank figures showed.
All eleven banks closed the year at a profit. Crnogorska Komercijalna Banka (CKB), a unit of Hungarian banking group OTP, posted the highest profit - of some 56 million euro, up from 31 million euro in 2022, the central bank said earlier this week.
NLB Banka Podgorica, the Montenegrin unit of Slovenia's Nova Ljubljanska Banka (NLB), recorded the second highest profit of 26.6 million euro last year, up from 15.5 million euro in 2022. Next came Adriatic Banka, formerly known as Nova Banka, with 15.7 million euro, up from 7.1 million euro in 2022, and Erste Bank Podgorica, a unit of Austria's Erste Group, with 15.6 million euro, up from 11.6 million euro in 2022.
Hipotekarna Banka followed with a 12.3 million euro in net profit for 2023, up from 6.0 million euro a year earlier.
In terms of assets, CKB was Montenegro's largest bank at the end of 2023, with assets totalling 1.733 billion euro. It was followed by NLB Banka with 972 million euro worth of total assets and Hipotekarna Banka with 921 million euro. Erste Bank was forth largest lender with assets totalling 819 million euro and Adriatic Banka was fifth with 534 million euro worth of assets at the end of last year.
($ = 0.916 euro)
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