Podgorica – according to the projections and beside the conservative approach in calculations of provisions for loans and off-balance sheets activities, year-end net profit for 2008 of Hipotekarna bank will be over one million euros.

”Business policy of our bank was very conservative – we granted loans only to clients of good standing” said Ana Golubovic, Director of the Commercial Department of Hipotekarna bank.

PODGORICA – Banking sector in Montenegro achieved one fifth less profit for the first nine months of this year in comparison to the same period of last year. The highest profit growth was achieved by Hipotekarna bank ad by even 18 times.

Montenegrin banks achieved a profit of EUR 14,3 millions which represents the raise of one third compared to the same period last year.

Montenegrin banks achieved a profit of EUR 5,6 millions in the first quarter of this year which represents the raise of 12% compared to the same period last year.

12th of May 2008. Hipotekarna banka ad obtained a Decision on granting a license for Custody operations issued by Securities Commission.