Dear clients,

We would like to inform you that Central Bank of Montenegro, in accordance with the Decision Amending the Decision on Interim Measures to Reduce Adverse Effects of the Communicable Disease Covid-19 Epidemic on the Financial System (Official Gazette 024/21 as of 03.03.2021), has passed new set of measures for loan users that will change the conditions for moratorium and restructuring of loans.

  • Moratorium right for loan approval shall obtain loan users who are performing activities that are most affected by the negative effects of the pandemic’s consequences of the communicable disease Covid-19, as well as users of the loan that are approved for “accommodation and food services” or loans approved for the “tourist season preparation” in period until 31 August 2021 if they were not in repayment delay on 31.12.2019 more than 90 days, and loan was not classified in category of bad assets on that day.
  • Bank shall, on request of natural person, approve the change of the loan repayment plan by extending period of loan repayment for maximum 5 years if earnings of the loan user on 31 March 2020 has been reduced by more than 10% due to the negative effects of the pandemic Covid-19.
  • On request of the loan user who does not belong to the category from previous article, Bank shall approve the loan restructuring if:
  1. Client was not in delay with loan repayment more than 90 days on 31.12.2019 and loan was not classified as bad loan and is not restructured in 2020 until 28 February 2021. ,
  2. Loan user may prove to the Bank by proper documents that its financial position has been deteriorated or that it will be deteriorated in near future due to the negative effects of communicable disease epidemic Covid-19 on its business operations from the day of the appearance of this virus in the world
  3. Bank estimates that loan ability of the loan user shall be improved after the executed restructuring.

More details on conditions of moratorium and restructuring of the loans you may read in the respective Decision which is published on the web site of the Central Bank of Montenegro:

Decision on Interim Measures to Reduce Adverse Effects of the Communicable Disease Covid-19 Epidemic on the Financial System m („Official Gazette of Montenegro“ no. 80/20, 105/20 and 24/21) – revised text

Loan user who intends to achieve right to moratorium and loan restructuring shall submit the request to the Bank in electronic or written form and Bank shall, no later than 15 days from the day of receipt of the request, carry out the actions necessary for the implementation of the moratorium, i.e. changes to the loan repayment plan, including the conclusion of an annex to the contract.

All costs related to the maintaining and implementation of the moratorium and all costs related to the maintaining of a new loan repayment plan shall be borne by the Bank.

For all additional information about the detailed conditions for the moratorium on loan repayment and loan restructuring, please contact the Bank’s Branch in Podgorica, Cetinjska Street 9 (The Capital Plaza) or on the bank’s website

Respectfully yours,

Adriatic Bank

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