The Government has adopted the proposed statute for the Development Bank, which outlines the organization, operational framework and other important matters related to the institution’s operations and business activities.
According to the proposed statute, the founder of the Development Bank is the state of Montenegro, with the Government performing the rights and duties of the founder.
The Development Bank is established as a single-member joint-stock company for an indefinite period, and its primary goal is not to generate profit, as stated in the information approved during the Government’s teleconference session held on Wednesday.
The institution operates under the name Development Bank of Montenegro, and in international dealings, it can use the English name, Development Bank of Montenegro.
The abbreviated name of the bank is RBCG, and its headquarters are in Podgorica. The Development Bank’s email is info@rb.me.
The main activity of the Development Bank is other monetary intermediation.
Other activities include granting loans, performing factoring and other forms of debt collection, and issuing guarantees, particularly aimed at supporting the establishment, development, and sustainability of micro, small, medium and large enterprises and entrepreneurs. Additionally, the bank supports infrastructure projects, water supply, environmental protection, financing projects of local, regional and national importance, promoting the competitiveness of Montenegrin products and services, employment, energy efficiency projects, renewable energy, and other measures that have a positive environmental impact. The bank also supports projects related to the digital transformation of businesses and social and socially responsible housing.
The bank’s activities also include insurance for the export of goods and services from Montenegro against non-market risks, accepting deposits, providing payment services in accordance with the law, crediting to support social entrepreneurship, self-employment, initiating new investment cycles, and strengthening the startup business sector. It also handles capital sales in the bank’s portfolio.
Additionally, the bank carries out activities related to trading financial instruments on regulated capital markets, supporting entrepreneurship and economic development, and other activities in line with the law and the statute.
The Development Bank can perform other tasks entrusted by the Government when deemed to be in the interest of Montenegro’s economic development.
The total value of the Development Bank’s founding capital is 107.51 million EUR, divided into 107.51 million ordinary shares with a nominal value of one EUR each.
The bank’s capital can be increased through additional contributions from the founder in accordance with the law. Shareholder capital may be increased from reserve funds.
Amendments to the statute regarding capital increase are registered with the Central Registry of Business Entities (CRPS).
The Development Bank plans its capital needs in a way that ensures coverage of all expected and potential losses.
The Development Bank determines its income, expenses, and profit in accordance with the law, regulations based on the law, and provisions of the statute.
