Provladeks, Atlasmont bank and LGT bank interested in procurement of Pljevaljska banka

Director of Montenegro Agency for Restructuring of Economy and Foreign Investments, Branko Vujović, announced that the tender documentation for Pljevaljska banka had been bought by Provladeks, Atlasmont bank and LGT bank from Lichtenstein. The last one, according to Vujović, will probably give up, because it is not "big enough ".

The tender for sale of Pljevaljska banka was announced at the beginning of December. Package of 78.73% of stock capital in that bank, which is owned by the Republic of Montenegro, Employment Bureau and Development Fund, is offered for sale.

The right to participation in the tender has all juristic and physical persons who realized total incomes worth 1.5 milllion EUR during the last three years.

Tender is open until March 2.

Majority owner of Pljevaljska banka is the Government of Montenegro with 56.38% of stock capital. The Government became the majority owner in July 2005, after it exchanged debts of Pljevlja’s coal mine to the State for 56.24% of stocks, which was the mine’s property in that bank.

Stock capital of Pljevaljska banka amounts to about €5.2m, which means that it reached the required limit to operate independently, but that capital and the number of clients and transactions is not big enough for that.

Pljevaljska banka employs 74 workers and, in addition to surplus manpower, its qualification structure is also infavorable.