As it seems, the Greek crisis hasn’t affected the Universal Capital Bank (UCB), beside the fact that the majority of the businessmen who command it are coming from Greece, according to the Central Bank of Montenegro (CBCG).

Universal Capital Bank

CBCG stated that they control the whole Banking system in Montenegro and by extension the Universal Capital Bank. So even Greece is in a very difficult financial situation the last years, it has nothing to do with the bank which is totally a Montenegro’s issue.
“It is true that the bank was created by the Greek capital, but after the withdrawal of Victor Restis, who was the main owner of it, the ownership was transferred to the Sigma Group Holding which belongs to Petros Stathis and it has its base at Podgorica. Mr Stathis is a Greek businessman and a Greek citizen, but as he also has Montenegrin citizenship, UCB considered as a member of the Montenegrin bank system” the CBCG explained.
Plus there are no deposits in Greek banks which derived from the Universal Capital Bank, so it is not strange that the Greek crisis might not have any significant influence on its business, according to CBCG.
The CBCG said that the business activities coming from Greece to Montenegro had a share less than 1% of the total inflow, so it was not expected to have a direct negative impact. So as the Greek crisis deepens, and the majority of businesses stay native, it will not farther affect the Universal Capital Bank.


Petros Stathis