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.
Key developments in digital included the launch of the mobile business banking app, NLB ProKlik, providing clients with digital transactional banking capabilities and improved visibility on account data.
Overall, the bank’s efforts to digitalize its banking products and services is delivering results – the number of its digital users hit 19,560 last year, up about 60% year on year.
Extending its range of sustainable finance products, NLB Banka last year obtained a €2 million two-year loan from the European Bank for Reconstruction and Development (EBRD) to provide green loans to finance energy efficient residential buildings.
The financing is part of the EBRD’s Green Economy Financing Fund, which supports investments in high-performance green technologies, materials and solutions to reduce greenhouse gas emissions, lower energy costs and improve the quality of life of homeowners.
