Financial Sector Assessment Program : Montenegro Finance for Growth
This technical note reviews with the status access to finance for enterprises in Montenegro, identifies key bottlenecks, and provides recommendations on how to address main challenges. In particular, the note focuses on SME finance by assessing (i)...
| Main Authors: | , |
|---|---|
| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2016
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2016/04/26187426/montenegro-finance-growth-technical-note http://hdl.handle.net/10986/24127 |
| id |
okr-10986-24127 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
BUSINESS OWNERS LINE OF CREDIT FINANCIAL SERVICES CAPITAL MARKETS DEPOSIT LINES OF CREDIT BORROWER ECONOMIC GROWTH PROFIT MARGINS REPAYMENT CAPACITY BUSINESS OPPORTUNITIES DEPOSITS SMALL BANKS FINANCING FINANCIAL SECTOR REGULATION LOAN-TO-DEPOSIT RATIO INTEREST FINANCIAL LITERACY GUARANTEES FINANCIAL DISTRESS LOAN PROVISIONING INTEREST RATE CREDIT CRUNCH INCOME GROUP ENTREPRENEURS FINANCIAL REGULATORS MORTGAGE CAPITAL ADEQUACY TAX BURDEN LOAN SOURCES OF FINANCE CREDITWORTHINESS BORROWERS CORRUPTION BANKRUPTCY LOAN CONTRACT CREDITORS CREDITOR MFIS INFORMATION ASYMMETRIES ALTERNATIVE FINANCING FINANCIAL ACCESS INDICATORS NEW BUSINESS MICROFINANCE INSTITUTIONS CREDIT UNDERWRITING INTERNAL FINANCING FUNDING SOURCES BANK LENDING PUBLIC CREDIT EXTERNAL FINANCE COST PRESSURES ACCESS TO FINANCIAL SERVICES BIASES ECONOMIC ACTIVITY INTERNATIONAL FINANCE CREDITS SAVINGS MORTGAGES TECHNICAL ASSISTANCE INDEBTEDNESS CREDIT UNIONS FINANCIAL INSTITUTION INFORMAL ECONOMY PARTIAL CREDIT CONSUMER CREDIT LOAN PRODUCTS ACCESS TO FINANCING UNION DEBTS OPERATIONAL COSTS FINANCES FIXED COSTS INTEREST RATES CORPORATE FINANCE CREDIT RISKS PAYMENT FINANCIAL INSTITUTIONS DEBT FINANCIAL PRODUCTS LOANS INVESTMENT OPPORTUNITIES BUSINESS ENTRY ENTERPRISES PERSONAL BANKRUPTCY LOAN CATEGORIES BANK CREDIT FINANCIAL SYSTEM REAL ESTATE CONSUMER LENDING DEBIT CARDS BANK FINANCING FINANCE LOAN TERMS LONG-TERM FUNDING SAVINGS ACCOUNT INFORMATION ASYMMETRY BANKS ENTREPRENEURIAL ACTIVITY INSTITUTIONAL REFORMS UNIONS UNEMPLOYMENT MICRO-CREDIT COLLATERAL REQUIREMENTS POINT OF SALE GRANT EQUITY AFFORDABILITY CAPITAL OPERATING COSTS DIRECT LOANS FINANCE ACCESS CREDIT PROVIDERS CREDIT ACCESS ACCESS TO FINANCE BUSINESS DEVELOPMENT CONVENTIONAL BANK LOANS CONVENTIONAL BANK FOREIGN DIRECT INVESTMENT BANK CREDIT BOND MARKET KEY CHALLENGE HOUSEHOLD REPAYMENT CREDIT INFORMATION ENTERPRISE PROPERTY LOAN PORTFOLIO FINANCIAL SERVICE PROVIDERS CREDIT REPORTING INSTITUTIONAL CAPACITY BALANCE SHEET FINANCIAL ACCESS TRANSACTION COSTS CREDIT GUARANTEE FINANCIAL SERVICE DIVERSIFICATION MICROCREDIT FINANCIAL INFRASTRUCTURE PROFITABILITY CREDIT RISK ACCESS TO CREDIT OVERHEAD COSTS MICROFINANCE GOVERNMENT POLICIES ECONOMIC DEVELOPMENT FINANCIAL SECTOR ASSESSMENT PROVIDERS OF CREDIT FIXED ASSETS SECURITY BANK LOANS ECONOMIES OF SCALE INVESTMENT CREDIT GUARANTEES FINANCIAL INTERMEDIATION FINANCIAL INTERMEDIARIES COMMERCIAL BANKS HOUSEHOLDS COLLATERAL ACCESS INDICATORS FINANCIAL INTERMEDIARY INVESTMENTS GREATER ACCESS FINANCIAL SUPPORT RISK MANAGEMENT IDS BANKING SUPERVISION REMITTANCES OVERHEAD COST LABOR MARKETS BANK BRANCHES LENDING CONDITIONS CREDIT HISTORY CREDIT INSTITUTIONS GUARANTEE ECONOMIC AGENTS CONSUMER PROTECTION CREDIT REGISTRY BUSINESS FINANCES MFI EMPLOYEES |
| spellingShingle |
BUSINESS OWNERS LINE OF CREDIT FINANCIAL SERVICES CAPITAL MARKETS DEPOSIT LINES OF CREDIT BORROWER ECONOMIC GROWTH PROFIT MARGINS REPAYMENT CAPACITY BUSINESS OPPORTUNITIES DEPOSITS SMALL BANKS FINANCING FINANCIAL SECTOR REGULATION LOAN-TO-DEPOSIT RATIO INTEREST FINANCIAL LITERACY GUARANTEES FINANCIAL DISTRESS LOAN PROVISIONING INTEREST RATE CREDIT CRUNCH INCOME GROUP ENTREPRENEURS FINANCIAL REGULATORS MORTGAGE CAPITAL ADEQUACY TAX BURDEN LOAN SOURCES OF FINANCE CREDITWORTHINESS BORROWERS CORRUPTION BANKRUPTCY LOAN CONTRACT CREDITORS CREDITOR MFIS INFORMATION ASYMMETRIES ALTERNATIVE FINANCING FINANCIAL ACCESS INDICATORS NEW BUSINESS MICROFINANCE INSTITUTIONS CREDIT UNDERWRITING INTERNAL FINANCING FUNDING SOURCES BANK LENDING PUBLIC CREDIT EXTERNAL FINANCE COST PRESSURES ACCESS TO FINANCIAL SERVICES BIASES ECONOMIC ACTIVITY INTERNATIONAL FINANCE CREDITS SAVINGS MORTGAGES TECHNICAL ASSISTANCE INDEBTEDNESS CREDIT UNIONS FINANCIAL INSTITUTION INFORMAL ECONOMY PARTIAL CREDIT CONSUMER CREDIT LOAN PRODUCTS ACCESS TO FINANCING UNION DEBTS OPERATIONAL COSTS FINANCES FIXED COSTS INTEREST RATES CORPORATE FINANCE CREDIT RISKS PAYMENT FINANCIAL INSTITUTIONS DEBT FINANCIAL PRODUCTS LOANS INVESTMENT OPPORTUNITIES BUSINESS ENTRY ENTERPRISES PERSONAL BANKRUPTCY LOAN CATEGORIES BANK CREDIT FINANCIAL SYSTEM REAL ESTATE CONSUMER LENDING DEBIT CARDS BANK FINANCING FINANCE LOAN TERMS LONG-TERM FUNDING SAVINGS ACCOUNT INFORMATION ASYMMETRY BANKS ENTREPRENEURIAL ACTIVITY INSTITUTIONAL REFORMS UNIONS UNEMPLOYMENT MICRO-CREDIT COLLATERAL REQUIREMENTS POINT OF SALE GRANT EQUITY AFFORDABILITY CAPITAL OPERATING COSTS DIRECT LOANS FINANCE ACCESS CREDIT PROVIDERS CREDIT ACCESS ACCESS TO FINANCE BUSINESS DEVELOPMENT CONVENTIONAL BANK LOANS CONVENTIONAL BANK FOREIGN DIRECT INVESTMENT BANK CREDIT BOND MARKET KEY CHALLENGE HOUSEHOLD REPAYMENT CREDIT INFORMATION ENTERPRISE PROPERTY LOAN PORTFOLIO FINANCIAL SERVICE PROVIDERS CREDIT REPORTING INSTITUTIONAL CAPACITY BALANCE SHEET FINANCIAL ACCESS TRANSACTION COSTS CREDIT GUARANTEE FINANCIAL SERVICE DIVERSIFICATION MICROCREDIT FINANCIAL INFRASTRUCTURE PROFITABILITY CREDIT RISK ACCESS TO CREDIT OVERHEAD COSTS MICROFINANCE GOVERNMENT POLICIES ECONOMIC DEVELOPMENT FINANCIAL SECTOR ASSESSMENT PROVIDERS OF CREDIT FIXED ASSETS SECURITY BANK LOANS ECONOMIES OF SCALE INVESTMENT CREDIT GUARANTEES FINANCIAL INTERMEDIATION FINANCIAL INTERMEDIARIES COMMERCIAL BANKS HOUSEHOLDS COLLATERAL ACCESS INDICATORS FINANCIAL INTERMEDIARY INVESTMENTS GREATER ACCESS FINANCIAL SUPPORT RISK MANAGEMENT IDS BANKING SUPERVISION REMITTANCES OVERHEAD COST LABOR MARKETS BANK BRANCHES LENDING CONDITIONS CREDIT HISTORY CREDIT INSTITUTIONS GUARANTEE ECONOMIC AGENTS CONSUMER PROTECTION CREDIT REGISTRY BUSINESS FINANCES MFI EMPLOYEES World Bank International Monetary Fund Financial Sector Assessment Program : Montenegro Finance for Growth |
| geographic_facet |
Europe and Central Asia Montenegro |
| description |
This technical note reviews with the
status access to finance for enterprises in Montenegro,
identifies key bottlenecks, and provides recommendations on
how to address main challenges. In particular, the note
focuses on SME finance by assessing (i) bank SME lending,
and (ii) current constraints facing further development and
deepening of the non-bank credit sector. The note develops
key findings presented to the authorities during the FSAP
mission and summarized in the aide-mémoire. The Montenegrin
financial sector has yet to recover from the collapse of the
real estate bubble in 2008. The crisis has exposed important
weaknesses in the financial sector’s governance, oversight
and infrastructure which had fueled years of unsustainable
credit growth leading up to the crisis. The resulting
balance sheet deleveraging and restructuring process has
reduced the banking sectors’ ability to finance the
corporate sector, which continues to suffer from slow
economic growth and remaining weaknesses in the business environment. |
| format |
Report |
| author |
World Bank International Monetary Fund |
| author_facet |
World Bank International Monetary Fund |
| author_sort |
World Bank |
| title |
Financial Sector Assessment Program : Montenegro Finance for Growth |
| title_short |
Financial Sector Assessment Program : Montenegro Finance for Growth |
| title_full |
Financial Sector Assessment Program : Montenegro Finance for Growth |
| title_fullStr |
Financial Sector Assessment Program : Montenegro Finance for Growth |
| title_full_unstemmed |
Financial Sector Assessment Program : Montenegro Finance for Growth |
| title_sort |
financial sector assessment program : montenegro finance for growth |
| publisher |
World Bank, Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2016/04/26187426/montenegro-finance-growth-technical-note http://hdl.handle.net/10986/24127 |
| _version_ |
1764455718134480896 |
| spelling |
okr-10986-241272021-05-25T10:54:44Z Financial Sector Assessment Program : Montenegro Finance for Growth World Bank International Monetary Fund BUSINESS OWNERS LINE OF CREDIT FINANCIAL SERVICES CAPITAL MARKETS DEPOSIT LINES OF CREDIT BORROWER ECONOMIC GROWTH PROFIT MARGINS REPAYMENT CAPACITY BUSINESS OPPORTUNITIES DEPOSITS SMALL BANKS FINANCING FINANCIAL SECTOR REGULATION LOAN-TO-DEPOSIT RATIO INTEREST FINANCIAL LITERACY GUARANTEES FINANCIAL DISTRESS LOAN PROVISIONING INTEREST RATE CREDIT CRUNCH INCOME GROUP ENTREPRENEURS FINANCIAL REGULATORS MORTGAGE CAPITAL ADEQUACY TAX BURDEN LOAN SOURCES OF FINANCE CREDITWORTHINESS BORROWERS CORRUPTION BANKRUPTCY LOAN CONTRACT CREDITORS CREDITOR MFIS INFORMATION ASYMMETRIES ALTERNATIVE FINANCING FINANCIAL ACCESS INDICATORS NEW BUSINESS MICROFINANCE INSTITUTIONS CREDIT UNDERWRITING INTERNAL FINANCING FUNDING SOURCES BANK LENDING PUBLIC CREDIT EXTERNAL FINANCE COST PRESSURES ACCESS TO FINANCIAL SERVICES BIASES ECONOMIC ACTIVITY INTERNATIONAL FINANCE CREDITS SAVINGS MORTGAGES TECHNICAL ASSISTANCE INDEBTEDNESS CREDIT UNIONS FINANCIAL INSTITUTION INFORMAL ECONOMY PARTIAL CREDIT CONSUMER CREDIT LOAN PRODUCTS ACCESS TO FINANCING UNION DEBTS OPERATIONAL COSTS FINANCES FIXED COSTS INTEREST RATES CORPORATE FINANCE CREDIT RISKS PAYMENT FINANCIAL INSTITUTIONS DEBT FINANCIAL PRODUCTS LOANS INVESTMENT OPPORTUNITIES BUSINESS ENTRY ENTERPRISES PERSONAL BANKRUPTCY LOAN CATEGORIES BANK CREDIT FINANCIAL SYSTEM REAL ESTATE CONSUMER LENDING DEBIT CARDS BANK FINANCING FINANCE LOAN TERMS LONG-TERM FUNDING SAVINGS ACCOUNT INFORMATION ASYMMETRY BANKS ENTREPRENEURIAL ACTIVITY INSTITUTIONAL REFORMS UNIONS UNEMPLOYMENT MICRO-CREDIT COLLATERAL REQUIREMENTS POINT OF SALE GRANT EQUITY AFFORDABILITY CAPITAL OPERATING COSTS DIRECT LOANS FINANCE ACCESS CREDIT PROVIDERS CREDIT ACCESS ACCESS TO FINANCE BUSINESS DEVELOPMENT CONVENTIONAL BANK LOANS CONVENTIONAL BANK FOREIGN DIRECT INVESTMENT BANK CREDIT BOND MARKET KEY CHALLENGE HOUSEHOLD REPAYMENT CREDIT INFORMATION ENTERPRISE PROPERTY LOAN PORTFOLIO FINANCIAL SERVICE PROVIDERS CREDIT REPORTING INSTITUTIONAL CAPACITY BALANCE SHEET FINANCIAL ACCESS TRANSACTION COSTS CREDIT GUARANTEE FINANCIAL SERVICE DIVERSIFICATION MICROCREDIT FINANCIAL INFRASTRUCTURE PROFITABILITY CREDIT RISK ACCESS TO CREDIT OVERHEAD COSTS MICROFINANCE GOVERNMENT POLICIES ECONOMIC DEVELOPMENT FINANCIAL SECTOR ASSESSMENT PROVIDERS OF CREDIT FIXED ASSETS SECURITY BANK LOANS ECONOMIES OF SCALE INVESTMENT CREDIT GUARANTEES FINANCIAL INTERMEDIATION FINANCIAL INTERMEDIARIES COMMERCIAL BANKS HOUSEHOLDS COLLATERAL ACCESS INDICATORS FINANCIAL INTERMEDIARY INVESTMENTS GREATER ACCESS FINANCIAL SUPPORT RISK MANAGEMENT IDS BANKING SUPERVISION REMITTANCES OVERHEAD COST LABOR MARKETS BANK BRANCHES LENDING CONDITIONS CREDIT HISTORY CREDIT INSTITUTIONS GUARANTEE ECONOMIC AGENTS CONSUMER PROTECTION CREDIT REGISTRY BUSINESS FINANCES MFI EMPLOYEES This technical note reviews with the status access to finance for enterprises in Montenegro, identifies key bottlenecks, and provides recommendations on how to address main challenges. In particular, the note focuses on SME finance by assessing (i) bank SME lending, and (ii) current constraints facing further development and deepening of the non-bank credit sector. The note develops key findings presented to the authorities during the FSAP mission and summarized in the aide-mémoire. The Montenegrin financial sector has yet to recover from the collapse of the real estate bubble in 2008. The crisis has exposed important weaknesses in the financial sector’s governance, oversight and infrastructure which had fueled years of unsustainable credit growth leading up to the crisis. The resulting balance sheet deleveraging and restructuring process has reduced the banking sectors’ ability to finance the corporate sector, which continues to suffer from slow economic growth and remaining weaknesses in the business environment. 2016-04-25T18:46:40Z 2016-04-25T18:46:40Z 2016-01 Report http://documents.worldbank.org/curated/en/2016/04/26187426/montenegro-finance-growth-technical-note http://hdl.handle.net/10986/24127 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Financial Sector Assessment Program Europe and Central Asia Montenegro |