EFSE lends EUR 5mn to NLB Montenegrobanka for SME financing.

By bne IntelliNews June 10, 2010
The European Fund for Southeast Europe (EFSE) has extended a EUR 5mn loan to mid-sized lender NLB Montenegrobanka, EFSE announced. The funds are intended to support the SME sector in the country. This is already the fourth loan, which the local lender receives from EFSE. NLB Montenegrobanka is the fourth-largest commercial bank in the country in terms of assets. The lender saw a 38.8% y/y contraction of its net profit to EUR 1.4mn in 2009. It is majority-controlled by Slovenian lender NLB.

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