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Awards for Excellence 2009: Montenegro

Best Bank: Atlasmont Bank Podgorica

Atlasmont Bank Podgorica broke new ground for the Montenegrin banking sector earlier this year when it became the first financial institution from the country to secure an international credit rating. Moody’s Investors Service assigned it a B1 rating based on its strong capital adequacy ratio of 14.3%. As of December 2008, the bank boasted total assets of €157.6 million. Through a nationwide network of 25 offices, Atlasmont Bank provides an extensive range of retail and corporate banking services as well as insurance and asset management. It also has a wholly owned subsidiary, ABM Bank, in Russia and owns a stake in fund manager Atlas Capital Financial Services in Cyprus.