At the end of 2024, total deposits in Montenegrin banks reached €5.84 billion, accounting for 80.53% of total liabilities, according to the 2024 Annual Report of the Deposit Protection Fund (FZD). This marks a €364 million (6.64%) increase from the previous year, reflecting strong depositor confidence and the central role of deposits in banking operations.
Deposits from individuals eligible for guaranteed coverage made up over 88.43% of the total, with household deposits comprising just over 50% and corporate deposits 38%. Deposits from non-residents slightly declined from 24.9% in 2023 to 23.72% in 2024. The number of individual depositors was 697,900, and legal entities 75,237, with the total number of depositors decreasing by 1.84% compared to 2023.
Banks increasingly used these funds for lending, a shift FZD considers potentially positive for economic growth. The Fund collected €27.4 million in risk-based premiums in 2024 and continued payouts to depositors of failed banks Atlas and Invest Bank Montenegro. At the end of 2024, €6.9 million in guaranteed deposits for these banks remained unpaid.
The Fund recovered €10.5 million from bankruptcy estates in 2024, with cumulative recoveries totaling €85.17 million (75.57%). Additional security is provided through a €50 million credit line from the European Bank for Reconstruction and Development, available over five years with a seven-year repayment term.
Guaranteed deposits stood at €2.4 billion at the end of 2024, up from €2.16 billion the previous year (11% increase). The coverage limit remains €50,000 per depositor per bank, set to rise to €100,000 once Montenegro joins the EU.
A court case resumed in May against CKB Bank over two fraudulent €50,000 payouts to fake Atlas Bank depositors in 2019. The FZD claims the bank failed to properly verify passport data. The court has requested further clarification from an IT expert before the next hearing in September.
