Montenegro is one of the countries with the highest number of microloans issued by Opportunity International, and the current shareholders, believing that there is no longer a need for such assistance, have decided to sell their shares. One of the potential buyers is the Croatian branch of the banking group Erste.
With total assets of 182 million euros, more than 220 employees in 14 branches across the country, Opportunity Bank Montenegro is the sixth largest bank by assets in Montenegro. It is an organization that offers microloans in countries where it believes, due to a high level of poverty, quality banking support is needed in terms of granting microloans. In 2002, when the bank was established, the maximum amount for such loans was 5,000 euros, and at that time the bank already offered loans for small and medium-sized enterprises up to 100,000 euros.
Opportunity Bank Montenegro was founded in 2002 as a branch of Opportunity International, an organization that organizes support for entrepreneurs in the least developed parts of the world with the help of donations.
Today, the limit for microloans has been increased to 15,000 euros. Although the bank has expanded into other areas of business, its focus remains on supporting small and medium-sized businesses, they say at the Montenegrin bank, adding that their owners believe their mission in Montenegro is complete and that small entrepreneurs today have access to various types of bank loans. – The most loans have been granted in the trade, manufacturing (one of the companies that first requested this type of loan is now a very respectable Montenegrin company – Hasa Glass) and tourism sectors. Just in the first week of operation, the bank approved more than 140 microloans, and we received support in terms of initial capital from organizations such as the World Bank and USAID, says Dragana Crvenica, the bank’s Marketing Manager.
