Decision on Chart of Accounts for Credit Institutions

Pursuant to Article 44 paragraph (2) item 3) of the Central Bank of Montenegro Law (OGM 40/10, 06/13, 70/17) and Article 221 paragraph (2) of the Law on Credit Institutions (OGM 72/19), the Council of the Central Bank of Montenegro, at its meeting held on 29 December 2021, passed the following DECISION ON CHART OF ACCOUNTS FOR CREDIT INSTITUTIONS
I. BASIC PROVISIONS
Subject matter
Article 1
This Decision regulates the contents of the groups of accounts and the Chart of Accounts for credit institutions (hereinafter: Chart of Accounts). Reporting the positions and changes in the Chart of Accounts
Article 2
The credit institutions shall report their positions and changes in assets, capital and liabilities, expenses and income and determine the results of their operations, based on the contents of groups of accounts broken down into the Chart of Accounts, given in Annex 1 of this Decision, and an integral part thereof.
II. CONTENTS OF THE GROUPS OF ACCOUNTS
Group of accounts 1000
Article 3
The accounts of the Group 1000 – Cash and Cash Equivalents shall disclose cash (hereinafter: cash) in EUR and other currencies and any cash equivalents held with credit institution and its branches, including cash in AMTs, cash in transit, damaged banknotes and coins, items for collection, funds held with credit institutions abroad (demand deposit), funds at settlement accounts held with the Central Bank of Montenegro (hereinafter: the Central Bank), other cash, funds for coverage under letters of credit held with banks abroad, funds for coverage under guarantees held with banks abroad and funds of the clients deposited for custody operations. The debit side of these accounts reflects cash or cash equivalents received. The credit side of these accounts reflects withdrawal or payment of cash or cash equivalents. Group of accounts 1100 (Subgroup of accounts 1103 - 1109)
Article 4
The accounts of the Group 1100 (Subgroup of accounts 1103-1109) – Deposits with Central Banks shall disclose reserve requirements and other funds deposited or placed with the Central Bank and other Central Banks.

The debit side of these accounts reflects funds deposited or placed. The credit side of these accounts reflects the withdrawal of the funds previously deposited or placed. Group of accounts 1100 (Subgroup of accounts 1120 - 1149)
Article 5
The accounts of the Group 1100 (Subgroup of accounts 1120-1149) - Deposits with Credit Institutions and Other Depository Institutions shall disclose funds invested with credit institutions and other institutions engaged in deposit taking. The debit side of these accounts reflect the funds invested. The credit side of these accounts reflects the withdrawal of the funds previously invested. Group of accounts 1150
Article 6
The accounts of the Group 1150 – Purchase and Resell Operations shall disclose securities purchased for resale under defined terms. The debit side of these accounts reflects securities purchased under agreement. The credit side of these accounts reflects securities sold under agreement. Group of accounts 1160
Article 7
The accounts of the Group 1160 shall include Sub-group of accounts 1160- 1163 – Derivatives, Financial Assets Held for Trading (Fair Value), and Subgroup of accounts 1164-1168 – Derivatives, Financial Assets Held as Hedging Instrument (fair value). The accounts of the Group 1160 (Sub-group of accounts 1160 – 1163) – Derivatives, Financial Assets Held for Trading (Fair Value) shall disclose fair value of derivative financial instruments held for trading having the characteristic of an asset item. The accounts of the Group 1160 (Sub-group of accounts 1164-1168) – Derivatives, Financial Assets Used as Hedging Instrument (Fair Value) shall disclose fair value of derivative financial instruments used as hedging instrument having the characteristic of an asset item. The debit side of these accounts reflects positive difference between the contractual value of derivative financial assets and its fair value as of the balance sheet date.

The credit side of these accounts reflects negative effect of determining new fair value of derivative financial assets. Group of accounts 1170
Article 8
The accounts of the Group 1170 – Held for Trading Securities shall disclose securities acquired by the credit institution for the purpose of making profit from the short-term price changes or agents’ margins, including the accounts that reflect premiums and discounts on held for trading securities. The debit side of these accounts reflects securities purchased by the credit institution for trading purposes. The credit side of these accounts reflects securities sold or disposed by the credit institution. Group of accounts 1180
Article 9
The accounts of the Group 1180 – Securities Carried at Fair Value through Profit and Loss shall disclose securities classified by the credit institution as securities carried at fair value through profit and loss, which are not held for trading. The debit side of these accounts reflects securities classified by the credit institution in this category. The credit side of these accounts reflects securities sold or disposed by the credit institution. Group of accounts 1190
Article 10
The accounts of the Group 1190 – Securities at Fair Value through Other Comprehensive Income shall disclose securities held within a business model whose objective is achieved by both collecting contractual cash flows and selling securities, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The operations with these securities are in compliance with the investment strategy, policy and investment plan. This group of accounts also includes accounts that reflect premiums and discounts in respect of these securities. The debit side of these accounts reflects securities at fair value through other comprehensive income. The credit side of these accounts reflects sold or disposed securities at fair value through other comprehensive income.

Group of accounts 1200
Article 11
The accounts of the Group 1200 – Loans to credit institutions, Other Depository Institutions, Other Financial Institutions and Undertakings Engaged in the Financial Activity shall disclose loans granted to credit institutions, other credit institutions, Central Banks, financial institutions (undertakings engaged in financial lease activities, factoring companies, micro-credit financial institutions, undertakings engaged in purchase of receivables, credit unions, persons involved in credit and guarantee activities), ancillary financial institutions, foreign financial organisations, insurance and reinsurance undertakings, undertakings operating at capital markets, fund management undertakings, and other undertakings involved in financial activities. A credit institution may classify loans to credit institutions, other depository institutions, financial institutions and undertakings engaged in the financial activity as the financial assets measured at amortised cost, at fair value through other comprehensive income, at fair value through profit or loss, or as financial assets held for trading in accordance with IFRS 9. The debit side of these accounts reflects the funds placed. The credit side of these accounts reflects the collection of the funds previously placed. Groups of accounts 1250 and 1260
Article 12
The accounts of the Group 1250 and 1260 - Loans to Non-Financial Sector shall disclose loans granted to undertakings, public services, non-government organisations, entrepreneurs, natural persons and other loans not included in the accounts of the Groups 1200, 1270 and 1280. A credit institution may classify loans to non-financial sector as the financial assets measured at amortised cost, at fair value through other comprehensive income, at fair value through profit or loss, or as financial assets held for trading in accordance with IFRS 9. The debit side of these accounts reflects the funds placed. The credit side of these accounts reflects the collection of the funds previously placed. Group of accounts 1270
Article 13
The accounts of the Group 1270 - Loans to the Government, Other Budget of Montenegro Beneficiaries, Local Self-Government Units and Regulatory Agencies shall disclose loans granted to the Government of Montenegro, loans granted to other entities that are fully or partially funded from the Budget of Montenegro

(excluding loans granted to Funds that are shown at accounts of the group 1280), loans to local self-government units, and loans to regulatory agencies. A credit institution may classify loans to the Government, other Budget of Montenegro beneficiaries, local self-government units and regulatory agencies as the financial assets measured at amortised cost, at fair value through other comprehensive income, at fair value through profit or loss, or as financial assets held for trading in accordance with IFRS 9. The debit side of these accounts reflects the funds placed. The credit side of these accounts reflects the collection of the funds previously placed. Group of accounts 1280
Article 14
The accounts of the Group 1280 – Loans to Funds shall disclose loans granted to state and private (resident/non-resident) Funds and to the Employment Agency of Montenegro. A credit institution may classify loans to Funds as financial assets measured at amortised cost, at fair value through other comprehensive income, at fair value through profit or loss, or as financial assets held for trading in accordance with IFRS 9. The debit side of these accounts reflects the funds placed. The credit side of these accounts reflects the collection of the funds previously granted. Group of accounts 1290
Article 15
The accounts of the Group 1290 – Loans Purchased for Trading (Securitisation) shall disclose purchased mortgage loans or other good quality loans that enable the credit institution to issue securities based on such loans. The debit side of these accounts reflects the loans purchased. The credit side of these accounts reflects securities issued in respect of the loans purchased.

Group of accounts 1300
Article 16
The accounts of the Group 1300 – Servicing Rights shall disclose assets arising from the servicing of the portfolio provided by the credit institution, where the portfolio (assets) to be serviced is not in the credit institution’s books. These servicing rights provide credit institution with the income and have a value that is reflected in the form of the assets. The debit side of these accounts reflects contractual servicing, which arises from the sale or securitization of the loan portfolio. The credit side of these accounts reflects valuation of the servicing activities that is amortized during the period of the contractual servicing. Group of accounts 1400
Article 17
The accounts of the Group 1400 – Securities Measured at Amortised Cost shall disclose securities held within a business model whose objective is to hold securities in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The credit institution holds at its account these securities for the purpose of generating income, in accordance with the investment strategy and investment plan. This group of the accounts also includes accounts that reflect premiums and discounts on these securities. The debit side of these accounts reflects securities purchased by the credit institution for the purpose of generating income. The credit side of these accounts reflects securities sold or disposed by the credit institution. Group of accounts 1410
Article 18
The accounts of the Group 1410 - Factoring and Forfaiting shall disclose purchased short-term and long-term receivables based on factoring and forfaiting where the objects are loans, securities and other receivables. The debit side of these accounts reflects the value of receivables purchased. The credit side of these accounts reflects the collection of the previously purchased receivables.

Group of accounts 1450
Article 19
The accounts of the Group 1450 – Equity Investments (Significant Influence) shall disclose investments in capital of persons where the credit institution has significant influence in accordance with IAS 28. The debit side of these accounts reflects equity investments made by the credit institution. The credit side of these accounts reflects investments sold or disposed by the credit institution. Group of accounts 1470
Article 20
The accounts of the Group 1470 – Equity Investments in Subsidiaries (Control) shall disclose equity investments that represent control over a legal person whose shares are owned by the credit institution, in accordance with IAS 27. The debit side of these accounts reflects equity investments made by the credit institution. The credit side of these accounts reflects investments sold or disposed by the credit institution. Group of accounts 1480
Article 21
The accounts of the Group 1480 – Joint Ventures shall disclose interests in joint ventures of a credit institution into financial/non-financial activity of a jointly controlled entity in accordance with IAS 31. The debit side of these accounts reflects investments based on joint ventures. The credit side of these accounts reflects sold or disposed investments that constitute joint ventures. Group of accounts 1500
Article 22
The accounts of the Group 1500 - Credit institution Receivables on Acceptances, Guarantees and Bills of Exchange Outstanding shall disclose credit institution receivables on outstanding acceptances, guarantees, bills of exchange and other security instruments. A credit institution may classify receivables on acceptances, guarantees and bills of exchange outstanding as the financial assets measured at amortised cost, at fair value through other comprehensive income, at fair value through profit or loss, or as financial assets held for trading in accordance with IFRS 9.

The debit side of these accounts reflects credit institution receivables towards clients on previously approved called for collection outstanding security instruments. The credit side of these accounts reflects the collection of receivables on outstanding security instruments. Group of accounts 1600
Article 23
The accounts of the Group 1600 – Receivables on Custody Operations shall disclose receivables on custody operations. The debit side of these accounts reflects receivables from custody clients. The credit side of these accounts reflects the collection of receivables. Group of accounts 1710
Article 24
The accounts of the Group 1710 – Non-Current Assets Held for Sale and Discontinued Operations shall disclose assets owned by the credit institution, which the credit institution intends to sell in accordance with appropriate decision, requiring the credit institution to sell assets in the following 12-month period. This group of accounts includes: tangible fixed assets, intangible long-term assets and equity investments which are acquired with the intention to dispose of it, and assets for which the decision on disposal has been subsequently made and discontinued operations (in accordance with IFRS 5). The debit side of these accounts reflect the acquired and reclassified non￾current assets. The credit side of these accounts reflects the sale, disposal or reclassification of such assets. Groups of accounts 1800, 1810, 1820 and 1830
Article 25
The accounts of the Group 1800, 1810, 1820, 1830 (Sub-group of accounts 1801-1830) - Fixed Assets shall disclose all fixed assets such as land, buildings, investment properties, plants and equipment, hardware, office equipment, vehicles, other fixed assets, small inventory, right-of-use assets in accordance with the International Financial Reporting Standards 16 – Leases (hereinafter: IFRS 16), and fixed assets under construction. This group of accounts shall also include expenses of the construction in progress and improvements on leased business premises. The debit side of these accounts reflects the cost of the fixed asset and changes in the value based on the revaluation. The credit side of these accounts reflects the sale, disposal or write-off of the fixed asset.

The debit side of the right-of-use assets account reflects the discounted value of future contractual obligations arising from the right-of-use assets. The credit side of the right-of-use assets account reflects the derecognition of right of use assets. The Group 1800 shall also disclose depreciation accounts for various fixed assets. The debit side of these accounts reflects write-off due to disposal of the fixed asset. The credit side of these accounts reflects depreciation to various fixed assets with periodic add-ons to amortised cost and changes in the value based on the revaluation. Groups of accounts 1850 and 1860
Article 26
The accounts of the Group 1850, 1860 (Sub-group of the account 1851 –
1861) - Intangible Assets shall disclose all intangible assets that the credit institution
possesses such as goodwill, patents/trademarks, concessions, computer programmes (software), other intangible assets and intangible assets under preparation. The debit side of these accounts reflects the cost of the intangible asset, and changes in the value based on the revaluation. The credit side of these accounts reflects the sale, disposal or write-off of the intangible assets. The Group 1850 shall disclose depreciation accounts for intangible assets. The debit side of these accounts reflects write-off due to disposal of the intangible assets. The credit side of these accounts reflects depreciation for intangible assets with periodic adjustments to the amortised cost and changes in the value based on the revaluation. Group of accounts 1900
Article 27
The accounts of the Group 1900 - Interest Receivables shall disclose receivables on interest invoiced and interest overdrafts. A credit institution may classify interest receivables as financial assets measured at amortised cost, at fair value through other comprehensive income, at fair value through profit or loss, or as financial assets held for trading in accordance with IFRS 9.

The debit side of these accounts reflects due receivables invoiced for accrued interest and receivables based on interest overdrafts. The credit side of these accounts reflects amounts received based on interest collected. Groups of accounts 1910 and 1920
Article 28
The accounts of the Group 1910, 1920 (Sub-group of accounts 1912-1929, except the account 1927) – Other Assets shall disclose receivables from agency activities, advance payments, other receivables on fees and commissions, maternity allowances, amounts due from frozen foreign exchange deposits, suspense account, assets acquired based on collection of receivables (not meeting the recognition criteria within non-current assets), deferred tax assets, current tax assets, precious metals, cheques receivables, receivables from buyers, receivables on payment card operations, receivables from employees and other business receivables. The debit side of these accounts reflects the increase in other assets. The credit side of these accounts reflects collected amounts of receivables, the decrease in deferred tax assets, and advance payments. Group of accounts 1927
Article 29
The accounts of the Group 1927 shall disclose other financial assets that may be classified by a credit institution as other financial assets measured at amortised cost, at fair value through other comprehensive income, at fair value through profit or loss, or as financial assets held for trading, other than securities and loans. The debit side of these accounts reflects other assets placed. The credit side of these accounts reflects collected amounts of previously placed other assets. Group of accounts 1930
Article 30
The accounts of the Group 1930 – Accruals and Prepaid Expenses shall disclose prepaid expenses, other accrued but not yet collected income, accrued income from loans, accruals for securities, accruals for deposits, accruals for lease receivables, accruals for cashed in guarantees, accruals for purchased receivables. Accruals of this group of the accounts refer to the accrued (not matured), not yet collected income from the aforesaid types of receivables. A credit institution may classify accruals for loans, securities, deposits, lease operations, cashed in guarantees and purchased operations as other financial assets measured at amortised cost, at fair value through other comprehensive income, at

fair value through profit or loss, or as financial assets held for trading in accordance with IFRS 9. The debit side of these accounts reflects increases in accrued, but not yet collected income and prepaid expenses. The credit side of these accounts reflects transfer to invoiced/matured receivables on the aforesaid bases and transfer to achieved/realised expenses from the account of prepaid expenses. Group of accounts 1940
Article 31
The accounts of the Group 1940 – Accruals of Fees shall disclose accruals of fees on loans, accruals of fees on securities, accruals of fees on deposits, accruals of fees on lease receivables, accruals of fees on cashed in guarantees, accruals of fees on purchased receivables. This group of the accounts shall record accrued income from fees for approvals/processing which recognition is performed periodically in accordance with the effective interest rate method. A credit institution may classify accruals of fees on loans, securities, deposits, lease operations, cashed in guarantees and purchased operations as other financial assets measured at amortised cost, at fair value through other comprehensive income, at fair value through profit or loss, or as financial assets held for trading in accordance with the IFRS 9. The debit side of these accounts reflects amount of fees that is periodically recognised into fee income. The credit side of these accounts reflects collected/invoiced amounts based on fees. Groups of accounts 1950 and 1951
Article 32
The accounts of the Group 1950 – Effects of Changes in the Fair Value of Items Being Subject to Hedging in Respect of the Group of Financial Assets shall disclose the effects of changes in the fair value of items being subject to hedging in respect of the group of financial assets. The accounts of the Group 1951 - Effects of Changes in the Fair Value of Items Subject to Hedging in Foreign Currency in Respect the Group of Financial Assets shall disclose the effects of change in the fair value of items subject to hedging in foreign currency in respect of the group of financial assets. The debit side of these accounts reflects the positive difference between the contractual value of the group of financial assets and fair value of such assets as at the balance sheet date. The credit side of these accounts reflects negative effect of determining new fair value of the group of financial assets.

Group of accounts from class 1
Article 33
Groups of accounts from class 1 (Assets), except for the Groups of accounts 1800, 1850, 1190 and financial assets measured at fair value through other comprehensive income shall also disclose value adjustments for covering potential losses. In accordance with paragraph 5.5.2 of the IFRS 9, a credit institution shall apply impairment requirements at the recognition and measurement of value adjustment of the financial assets that are measured at fair value through other comprehensive income by recognising value adjustment in other comprehensive income and it shall not impair the carrying amount of the financial assets being measured at fair value through other comprehensive income. The credit side of these accounts reflects amount of allowances for impairment of the assets based on value adjustments. The debit side of these accounts reflects impairment of the required level of value adjustments. Group of accounts 2100 (Subgroup of accounts 2101-2102)
Article 34
The accounts of the Group 2100 (Sub-group of accounts 2101-2102) - Borrowings from Central Banks shall disclose funds borrowed from the Central Bank of Montenegro and other Central Banks. A credit institution may classify borrowings from the Central Banks as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The credit side of these accounts reflects funds borrowed. The debit side of these accounts reflects payment or maturity of these funds. Group of accounts 2100 (Subgroup of accounts 2111 - 2120)
Article 35
The accounts of the Group 2110 (Sub-group of accounts 2111 - 2120) – Short-Term Borrowings shall disclose funds borrowed from credit institutions, other financial institutions, parent credit institutions, other members of the group of credit institutions, the Government of Montenegro and others. A credit institution may classify short-term borrowings as financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with IFRS 9. The credit side of these accounts reflects funds borrowed. The debit side of these accounts reflects payment or maturity of these funds.

Group of accounts 2100 (Subgroup of accounts 2131 - 2140)
Article 36
The accounts of the Group 2100 (Sub-group of accounts 2131 - 2140) – Long￾Term Borrowings shall disclose funds borrowed from credit institutions, other financial institutions, parent credit institutions, other members of the group of credit institutions, the Government of Montenegro and others. A credit institution may classify long-term borrowings as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with IFRS 9. The credit side of these accounts reflects funds borrowed. The debit side of these accounts reflects payment or maturity of these funds. Group of accounts 2150
Article 37
The accounts of the Group 2150 – Liabilities Based on Securities Sold under Repurchase Agreement shall disclose securities sold under the agreement to be repurchased under the specific price, on the specified date or in the specified period (repo). The credit side of these accounts reflects securities sold under repurchase agreement. The debit side of these accounts reflects securities repurchased under the repurchase agreement. Group of accounts 2200
Article 38
The accounts of the Group 2200 – Liabilities Based on Custody Operations shall disclose liabilities on custody operations. The credit side of these accounts reflects liabilities on assumed cash based on custody operations. The debit side of these accounts reflects purchased value of instruments purchased for custody clients. Group of accounts 2300 (Subgroup of accounts 2301-2320)
Article 39
The accounts of the Group 2300 (Sub-group of accounts 2301-2320) – Demand (Sight) deposits of credit institutions, Central Bank of Montenegro, other depository institutions, financial institutions and undertakings engaged in financial activity shall disclose deposits received from credit institutions, other credit institutions, financial institutions (undertakings engaged in financial lease activities,

factoring companies, micro-credit financial institutions, undertakings engaged in purchase of receivables, credit unions, persons involved in credit and guarantee activities), ancillary financial institutions, undertakings operating at capital markets and other undertakings involved in financial activities. A credit institution may classify demand (sight) deposits of credit institutions, other depository institutions, financial institutions and undertakings engaged in financial activity as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment of these funds. Group of accounts 2300 (Subgroup of accounts 2321-2344)
Article 40
The accounts of the Group 2300 (Sub-group of accounts 2321-2344) – Demand (Sight) Deposits of Non-Financial Sector shall disclose demand deposits of undertakings involved in non-financial business activity, public services, non￾government organisations, entrepreneurs, natural persons, and deposits not included in other sub-groups of the Group of accounts 2300. A credit institution may classify demand (sight) deposits of non-financial sector as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment of these funds. Group of accounts 2300 (Subgroup of accounts 2345-2352)
Article 41
The accounts of the Group 2300 (Sub-group of accounts 2345-2352) – Demand (Sight) deposits of the Government of Montenegro, other budget of Montenegro beneficiaries and local self-government units shall disclose deposits of the Government of Montenegro, other entities that are fully or partially financed from the Budget of Montenegro (excluding deposits of Funds that are shown within the Sub-group of accounts 2361-2376) and deposits of local self-government units. A credit institution may classify demand (sight) deposits of the Government of Montenegro, other Budget of Montenegro beneficiaries and local self-government units as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with IFRS 9. The credit side of these accounts reflects funds deposited.

The debit side of these accounts reflects payment of these funds. Group of accounts 2300 (Subgroup of accounts 2353-2356)
Article 42
The accounts of the Group 2300 (Sub-group of accounts 2353-2356) – Demand (Sight) Deposits of Regulatory Agencies shall disclose demand deposits of regulatory agencies. A credit institution may classify demand (sight) deposits of the regulatory agencies as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment of these funds. Group of accounts (Subgroup of accounts 2361-2378)
Article 43
The accounts of the Group 2300 (Sub-group of accounts 2361-2378) – Demand (Sight) Deposits of Funds shall disclose demand deposits of the state and private (resident/non-resident) Funds and Employment Agency of Montenegro. A credit institution may classify demand (sight) deposits of the funds as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment or maturity of these funds. Group of accounts 2300 (Subgroup of accounts 2381-2386)
Article 44
The accounts of the Group 2300 (Sub-group of accounts 2381-2386) – Demand (Sight) Deposits of Insurance / Reinsurance Undertakings shall disclose demand deposits of insurance / reinsurance undertakings. A credit institution may classify demand (sight) deposits of insurance / reinsurance undertakings as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment of these funds.

Group of accounts 2300 (Subgroup of accounts 2387-2398)
Article 45
The accounts of the Group 2300 (Sub-group of the accounts 2387-2398) – Demand (Sight) Deposits of Other Financial Institutions shall disclose demand deposits of undertakings engaged in financial lease activities, factoring companies, micro-credit financial institutions, undertakings engaged in purchase of receivables, credit unions, persons involved in credit and guarantee activities and ancillary financial institutions. A credit institution may classify demand (sight) deposits of other financial institutions as financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment of these funds. Groups of accounts 2400, 2410, 2420, 2430 and 2440
Article 46
The accounts of the Group 2400, 2410, 2420, 2430, 2440 (Sub-group of accounts 2401-2446) – Funds at Escrow Account shall disclose cash which a counterparty (contracting party in respect of credit institution) gives a credit institution (agent credit institution) for keeping, where a credit institution is authorised to pay the deposited money to other counterparty (beneficiary) under the terms and conditions specified in escrow agreement signed between the agent credit institution, the contracting party and the beneficiaries. A credit institution may classify funds at escrow account as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment of these funds. Group of accounts 2500 (Subgroup of accounts 2501-2520)
Article 47
The accounts of the Group 2500 (Sub-group of accounts 2501-2520) – Time (Term) Deposits of credit institutions, the Central Bank of Montenegro, other depository institutions, financial institutions and undertakings engaged in financial activity shall disclose time deposits received from credit institutions, other credit institutions, financial institutions (undertakings engaged in financial lease activities, factoring companies, micro-credit financial institutions, undertakings engaged in purchase of receivables, credit unions, persons involved in credit and guarantee activities), ancillary financial institutions, foreign financial organisations, undertakings operating at capital markets and other undertakings involved in financial activities. A credit institution may classify time deposits of credit institutions, other depository institutions, financial institutions and undertakings engaged in financial

activity as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects maturity of these funds. Group of accounts 2500 (Subgroup of accounts 2521-2544)
Article 48
The accounts of the Group 2500 (Sub-group of accounts 2521-2544) – Time (Term) Deposits of Non-Financial Sector shall disclose time deposits of undertakings involved in non-financial business activity, public services, non-government organisations, entrepreneurs, natural persons, and deposits not included in other sub-groups of the group of accounts 2500. A credit institution may classify time deposits of non-financial sector as financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment or maturity of these funds. Group of accounts 2500 (Subgroup of accounts 2545-2552)
Article 49
The accounts of the Group 2500 (Sub-group of accounts 2545-2552) – Time (Term) Deposits of the Government of Montenegro, other budget of Montenegro beneficiaries and local self-government units shall disclose time deposits of the Government of Montenegro, other entities that are fully or partially funded from the Budget of Montenegro (excluding deposits of Funds that are shown within Sub-group of accounts 2561-2576) and deposits of local self-government units. A credit institution may classify time deposits of the Government of Montenegro, other Budget of Montenegro beneficiaries and local self-government units as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment or maturity of these funds.

Group of accounts 2500 (Subgroup of accounts 2553-2556)
Article 50
The accounts of the Group 2500 (Sub-group of accounts 2553-2556) – Time (Term) Deposits of Regulatory Agencies shall disclose time deposits of regulatory agencies. A credit institution may classify time deposits of regulatory agencies as financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment or maturity of these funds. Group of accounts 2500 (Subgroup of accounts 2561-2578)
Article 51
The accounts of the Group 2500 (Sub-group of accounts 2561-2578) – Time (Term) Deposits of Funds shall disclose time deposits of the state and private (resident/non-resident) Funds and Employment Agency of Montenegro. A credit institution may classify time deposits of the funds as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment or maturity of these funds. Group of accounts 2500 (Subgroup of accounts 2581-2586)
Article 52
The accounts of the Group 2500 (Sub-group of accounts 2581-2586) – Time (Term) Deposits of Insurance / Reinsurance Undertakings shall disclose time deposits of insurance/reinsurance undertakings. A credit institution may classify time deposits of the insurance/reinsurance undertakings as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment or maturity of these funds. Group of accounts 2500 (Subgroup of accounts 2587-2598)
Article 53
The accounts of the group 2500 (Sub-group of the accounts 2587-2598) – Time (Term) Deposits of Other Financial Institutions shall disclose time deposits of

undertakings engaged in financial lease activities, factoring companies, micro-credit financial institutions, undertakings engaged in purchase of receivables, credit unions, persons involved in credit and guarantee activities and ancillary financial institutions. A credit institution may classify time deposits of other financial institutions as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The credit side of these accounts reflects funds deposited. The debit side of these accounts reflects payment or maturity of these funds. Group of accounts 2600
Article 54
The accounts of the Group 2600 – Credit institution’s Liabilities on Acceptances, Guarantees and Bills of Exchange Outstanding shall disclose acceptances, guarantees and bills of exchange, and other security instruments issued and recognized by the credit institution as its liability and called for collection. The credit side of these accounts reflects security instruments called for the collection by the credit institution. The debit side of these accounts reflects the settlement of credit institution’s liabilities on these items. Group of accounts 2700
Article 55
The accounts of the Group 2700 – Liabilities on Non-Current Assets Held for Sale and Discontinued Operations shall disclose liabilities on non-current assets held for sale in accordance with the IFRS 5 to be sold or to be closed on a disposal of these assets and liabilities based on operations to be discontinued in accordance with the IFRS 5 which are to be sold or closed on a disposal of these assets. The credit side of these accounts reflects liabilities on non-current assets held for sale and discontinued operations. The debit side of these accounts reflects the fulfilment of liabilities on non￾current assets held for sale and discontinued operations. Group of accounts 2800
Article 56
The accounts of the Group 2800 – Liabilities on Securities Issued shall disclose all accounts that include all securities issued by the credit institution. This group of accounts shall also include account for discount in relation to these securities.

A credit institution may classify liabilities on securities issued as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The credit side of these accounts reflects the securities sold. The debit side of these accounts reflects the payment or maturity of these securities. Group of accounts 2810 (Subgroup of accounts 2811-2814)
Article 57
The accounts of the Group 2810 (Sub-group of accounts 2811-2814) – Derivatives, Financial Liabilities Held for Trading (Fair Value) shall disclose fair value of derivative financial instruments held for trading, having the character of liabilities item. The credit side of these accounts reflects negative difference between the contractual value of derivative financial assets and fair value of assets as at the balance sheet date. The debit side of these accounts reflects positive effect of determining new fair value of derivative financial assets. Group of accounts 2820
Article 58
The accounts of the Group 2820 – Derivative Financial Liabilities Used as Hedging Instruments (Fair Value) shall disclose fair value of derivative financial instruments used as instruments of security having the characteristic of liabilities item. The debit side of these accounts reflects negative difference between the contractual value of derivate financial assets and its fair value as at the balance sheet date. The credit side of these accounts reflects positive effect of determining new fair value of derivative financial assets. Group of accounts 2850
Article 59
The accounts of the Group 2850 – Tier 2 capital elements shall disclose debt instruments that are considered Tier 2 capital of a credit institution in accordance with the Central Bank regulation regulating capital adequacy. The credit side of these accounts reflects the Tier 2 instrument s. The debit side of these accounts reflects the decrease in the Tier 2 instruments.

Group of accounts 2900, 2910, 2920
Article 60
The accounts of the group 2900, 2910, 2920 (Sub-group of accounts 2901-
2929) - Interest Payables and Other Liabilities shall disclose interest payables and
other liabilities of the credit institution. This group of accounts includes payables for invoiced items, interest overdraft, liabilities on agency deals, advance payments received, liabilities on other taxes, liabilities on dividend payout, payroll deduction (salaries, contributions, court decisions), invoiced liabilities: suppliers, liabilities on fees and commissions, liabilities to citizens on frozen foreign currency deposits, liabilities on financial lease, liabilities on payment card operations, current tax liabilities, deferred tax liabilities, lease liabilities (in accordance with IFRS 16), other financial liabilities and liabilities on suspense account. A credit institution may classify interest payables liabilities on deposits, securities, loans and borrowings, interest overdrafts and other financial liabilities as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The credit side of these accounts reflects the increases in liabilities on the aforesaid bases and the increase based on collected advance payments. The debit side of these accounts reflects the decrease based on payment of liabilities and transfer to income for collected advance payments. Group of accounts 2930
Article 61
The accounts of the group 2930 – Provisioning shall disclose provisions for losses on off-balance sheet assets, provisions for severance payments and jubilee rewards, provisions for unused annual leaves, provisions for lawsuits, provisions for other. The credit side of these accounts reflects the increases based on the increase in the level of provisions. The debit side of these accounts reflects the decreases based on the decrease in the level of provisions. Group of accounts 2940
Article 62
Accounts of the group 2940 – Deferrals and Prepaid Income shall disclose deferrals for loans, deferrals for debt securities, deferrals for deposits, deferrals for Tier 2 instrument s, deferrals for derivative financial liabilities, deferrals for other, prepaid income, accrued expenses. Deferrals of this group of accounts refer to accrued (not matured) not yet collected expenses on the aforesaid types of liabilities. A credit institution may classify liabilities on deferrals for loans, debt securities, deposits, Tier 2 instrument s, derivative financial liabilities and other deferrals as the

financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The debit side of these accounts reflect the increases in accrued liabilities and prepaid income. The credit side of these accounts reflects transfer to matured/invoiced liabilities and transfer to achieved/realised income with regard to prepaid income. Group of accounts 2950
Article 63
The accounts of the Group 2950 (Sub-group of accounts 2951 – 2999) – Deferrals on Other Bases shall disclose deferrals of fees for loans, deferrals of fees for debt securities, deferrals of fees for deposits, deferrals of fees for Tier 2 instrument s, deferrals of fees for other, and non-controlling interests in equity (minority interest). A credit institution may classify liabilities under deferrals of fees for loans, debt securities, deposits, Tier 2 instrument s, and other fees as the financial liabilities carried at amortised cost, financial liabilities carried at fair value through profit or loss, or as financial liabilities held for trading in accordance with the IFRS 9. The credit side of these accounts reflects fees that are periodically recognised into fee expenses and increase in minority interests when compiling the consolidated statements. The debit side of these accounts reflects advance payments of fees and the decrease in minority interests when preparing the consolidated statements. Group of accounts 2960
Article 64
The accounts of the Group 2960 – Effects of Changes in the Fair Value of Items being Subject to Hedging in Respect of the Group of Financial Assets shall disclose the effects of changes in the fair value of items being subject to hedging in respect of the group of financial assets. The debit side of these accounts reflects positive difference between the contractual value of the group of financial assets and fair value of the respective assets as at the balance sheet date. The credit side of these accounts reflects negative effect of determining new fair value of the group of financial assets. The account 2999 – Special account for the Opening/Closing of the General Ledger shall be used after recording all entries on position accounts. The credit side of this account reflects transferred balance positions of inactive accounts.

The debit side of this account reflects transferred balance positions of active accounts. The position after all the entries must equal the sum of all balances. Group of accounts 3000
Article 65
The accounts of the Group 3000 – Capital and Reserves shall disclose capital and reserves that include all ordinary shares and preferred shares issued by the credit institution. This group of accounts shall also include reserves and accrued and retained earnings (losses). The credit side of these accounts reflects the amount of the increase in share capital, capital reserves and undistributed profit. The debit side of these accounts reflects acquisition of own shares and deductions in respect of the decrease in reserves based on disclosed losses or based on payout/declaration of dividend. The account 3010 has debit balance, which reflects the effects of the implementation of the IFRS 9 starting from 1 January 2018. The account 3025 has only credit balance, which reflects the provisions for estimated losses under regulatory requirement. These provisions are provisions that are recognised as an expense when determining taxable income of credit institutions in accordance with the law governing corporate income tax. The account 3088 reflects changes in the fair value of financial instruments measured at fair value through other comprehensive income. The credit side of this account reflects the increase in the fair value, and the debit side reflects the decrease in the fair value of the financial instruments measured at fair value through other comprehensive income. The account 3999 is a suspense account used for closing of profit and loss account at the end of the reporting year. Group of accounts 4000
Article 66
The accounts of the Group 4000 (Sub-group 4011 – 4099, 4311, 4321, 4331, 4341, 4351, 4361, 4371, 4381, 4391) – Interest Income shall disclose all interest income earned by the credit institution on loans, fees in respect of loans granted, placements, other banking activities, and interest income on impaired placements. The credit side of these accounts reflects interest income earned. The debit side of these accounts reflects an adjustment or transfer to profit and loss accounts.

Group of accounts 4100
Article 67
The accounts of the Group 4100 (Sub-group of accounts 4111 – 4197, 4511, 4521, 4531, 4541, 4551, 4561, 4571, 4581, 4591) - Interest Expense shall disclose all interests paid by the credit institution on deposits, placements, fees on loans taken, Tier 2 instrument s, securities and for other banking activities, as well as interest that the credit institution records on the basis of lease. The debit side of these accounts reflects interest paid by the credit institution as well as the interest that the credit institution has recorded on the basis of lease. The credit side of these accounts reflects an adjustment or transfer to profit and loss accounts. Group of accounts 4300
Article 68
The accounts of the Group 4300 (Sub-group of accounts 4310 – 4399, except the accounts 4311, 4321, 4331, 4341, 4351, 4361, 4371, 4381, 4391) - Fee and Commission Income shall disclose income earned by the credit institution based on fees and commissions for various services provided. The credit side of these accounts reflects fees and commissions earned by the credit institution. The debit side of these accounts reflects an adjustment or transfer to the profit and loss statement. Group of accounts 4500
Article 69
The accounts of the Group 4500 (Sub-group of accounts 4510 – 4598, except the accounts 4511, 4521, 4531, 4541, 4551, 4561, 4581, 4591) - Fee and Commission Expense shall disclose fees and commissions paid by the credit institution for various services received. The debit side of these accounts reflects fees and commissions paid by the credit institution. The credit side of these accounts reflects an adjustment or transfer to profit and loss accounts. Group of accounts 4600
Article 70
The accounts of the Group 4600 - Net Gains (Losses) from Held for Trading Securities, Derivatives, Foreign Currencies and Other Financial Instruments Held for Trading shall disclose gains (losses) from the sale of securities, derecognition and

net effects of the change in the value of securities, financial derivatives, foreign currencies (spot transactions) and other financial instruments held for trading. The debit side of these accounts reflects losses from the held for trading securities, derivatives, foreign currencies (spot transactions) and other financial instruments held for trading. The credit side of these accounts reflects gains from the held for trading securities, derivatives, foreign currencies (spot transactions) and other financial instruments held for trading. Group of accounts 4700
Article 71
The accounts of the Group 4700 – Net Gains (Losses) from Securities and Other Financial Instruments at Fair Value through Other Comprehensive Income shall disclose gains (losses) arising from derecognition of securities at fair value through other comprehensive income. The debit side of these accounts reflects losses from securities and other financial instruments at fair value through other comprehensive income. The credit side of these accounts reflects gains from securities and other financial instruments at fair value through other comprehensive income. Group of accounts 4800 (Sub-account 4810)
Article 72
The accounts of the Group 4800 (Sub-account 4810) - Net Gains (Losses) from Financial Instruments carried at Fair Value through Profit and Loss shall disclose gains (losses) also based on derecognition of financial instruments measured at fair value through profit and loss except those held for trading and net effects of the change in the value of financial assets measured at fair value through profit and loss except those held for trading. The debit side of these accounts reflects losses from financial instruments carried at fair value through profit and loss. The credit side of these accounts reflects gains from financial instruments carried at fair value through profit and loss. Group of accounts 4800 (Subgroup of accounts 4830, 4840, 4870 and 4880)
Article 73
The accounts of the Group 4800 (Sub-account 4830, 4840, 4870, 4880) - Net Gains (Losses) from Securities and Other Financial Instrument Measured at Amortised Cost shall disclose gains (losses) on securities arising from derecognition of securities and other financial instrument measured at amortised cost. The debit side of these accounts reflects losses from securities.

The credit side of these accounts reflects gains from securities. Group of accounts 4800 (Subgroup of accounts 4894 - 4897)
Article 74
The accounts of the Group 4800 (Sub-group of accounts 4894 – 4897) – Net Gains (Losses) from Other Equity Investments shall disclose net gains (losses) from equity investments that provide significant influence, and equity investments that provide control over the legal person and equity investments from joint ventures. The debit side of these accounts reflects losses from equity investments. The credit side of these accounts reflects gains from equity investments. Group of accounts 4900 (Sub-accounts 4901 and 4911)
Article 75
The accounts of the Group 4900 (Sub-accounts 4901, 4911) – Gains and Losses from Revaluation shall disclose foreign exchange revaluation gains (losses). The debit side of these accounts reflects foreign exchange revaluation losses. The credit side of these accounts reflects foreign exchange revaluation gains. Group of accounts 4900 (Sub-account 4916)
Article 76
The accounts of the Group 4900 (Sub-account 4916) – Net Gains (Losses) from Repurchase Operations shall disclose gains (losses) from repurchase operations. The debit side of these accounts reflects losses from repurchase operations. The credit side of these accounts reflects gains from repurchase operations. Group of accounts 4900 (Sub-account 4917)
Article 77
The accounts of the Group 4900 (Sub-account 4917) – Net Gains (Losses) from Custody Operations shall disclose gains (losses) from custody operations. The debit side of these accounts reflects losses from custody operations. The credit side of these accounts reflects gains from custody operations Group of accounts 4920
Article 78
The accounts of the Group 4920 – Income/Expense related to Securitisation and Servicing shall disclose income from the sale of derivatives, depreciation

expense from servicing rights and realised income/expenses from providing services for others. The debit side of these accounts reflects depreciation expense from servicing rights and expense from providing services for others. The credit side of these accounts reflects realised income from the sale of derivatives and income from providing services for others. Group of accounts 4930
Article 79
The accounts of the Group 4930 - Dividend Income shall disclose income earned from dividends in respect of equity investments, including credit institutions, held for trading securities, securities at fair value through other comprehensive income and securities carried at fair value through profit and loss not held for trading. The credit side of these accounts reflects declared dividends belonging to a credit institution. The debit side of these accounts reflects an adjustment or transfer to the profit and losses accounts. Group of accounts 4990
Article 80
The accounts of the Group 4990 - Other shall disclose other operating income, non-operating income, income from collected written off receivables, and expenses based on direct write off of receivables and net gains (losses) based on modification and reclassification of financial instruments. The credit side of these accounts reflects non-operating and income from collected receivables previously written off by the credit institution. The debit side of these accounts reflects an adjustment or transfer to the profit and loss accounts, and expenses based on direct write off of receivables (loans and other receivables). The credit side of the account 4992 reflects gains based on reclassification of financial assets and the debit side of the account reflects losses based on reclassification of financial assets. A credit institution shall reclassify financial asset if it changes its business model of managing such a financial asset. The credit side of the account 4993 reflects gains based on modification of the financial assets and the debit side of the account reflects losses based on modification of financial asset. If the contractual cash flows of the financial assets have been renegotiated or otherwise modified whereby such a new contract or modification does not lead to derecognition of the financial asset in accordance with the IFRS 9, the credit institution shall recalculate gross carrying amount of the financial assets and recognise changes of profit or loss in the profit and loss statement.

Group of accounts 5000
Article 81
The accounts from the Group 5000 - Operating Expenses shall disclose all operating expenses, including cost of salaries and fringe benefits, other employee expenses, business premise expenses, depreciation, professional fees and expenses and other operating expenses. The debit side of these accounts reflects an expense to the credit institution and a reduction to the profit and loss. The credit side of these accounts reflects an adjustment or reversal of the expense account. Group of accounts 5000 (Subgroup of accounts 5001- 5029)
Article 82
The accounts of the Group 5000 (Sub-group of accounts 5001 – 5029) – Cost of Salaries and Fringe Benefits shall disclose net salaries, net sick leave benefits and annual leave benefits and other net employee benefits, contributions for pension and disability insurance, contributions for health insurance, contributions for insurance from unemployment, solidarity contributions, tax expenses, transport, other payroll expenses and provision expenses related to employees. The debit side of these accounts reflects an expense to the credit institution or an increase in the provisions for employees and a reduction to the profit and loss. The credit side of these accounts reflects an adjustment or reversal of the expense account and reduction to the expenses for provisions for employees. Group of accounts 5000 (Subgroup of accounts 5041- 5045)
Article 83
The accounts of the Group 5000 (Sub-group of accounts 5041 – 5045) – Other Employee Expenses shall disclose expenses for professional education, travel and entertainment, travel expenses and per diems, training expenses and other employee expenses. The debit side of these accounts reflects an expense to the credit institution and a reduction to the profit and loss. The credit side of these accounts reflects an adjustment or reversal of the expense account. Group of accounts (Subgroup of accounts 5051- 5082)
Article 84
The accounts of the Group 5000 (Sub-group of accounts 5051 – 5082) – Business Premise and Equipment Expenses shall disclose expenses of the use, maintenance and functioning of business premise, maintenance of computer and

other equipment, business premise leases, taxes related to business premise, taxes related to property lease, maintenance costs for vehicles and insurance. The debit side of these accounts reflects an expense to the credit institution and a reduction to the profit and loss. The credit side of these accounts reflects an adjustment or reversal of the expense account Group of accounts 5100
Article 85
The accounts of the Group 5100 (Sub-group of accounts 5102 – 5139) – Depreciation and Amortisation shall disclose depreciation costs. The debit side of these accounts reflects an expense to the credit institution and a reduction to the profit and loss. The credit side of these accounts reflects an adjustment or reversal of the expense account. Group of accounts 5200
Article 86
The accounts of the Group 5200 (Sub-group of accounts 5201 – 5212) – Professional Fees and Expenses shall disclose expenses based on various professional and other services. The debit side of these accounts reflects an expense to the credit institution and a reduction to the profit and loss. The credit side of these accounts reflects an adjustment or reversal of the expense account. Groups of accounts 5300, 5400 and 5500
Article 87
The accounts of the Group 5300, 5400, 5500 (Sub-group of accounts 5301 –
5526) – Other shall disclose other expenses from operations, expenses related to
current and deferred taxes, impairment of assets and losses/gains from sale and write off/sale of property, plant and equipment, investment property and property acquired from the collection of receivables. The debit side of these accounts reflects an expense to the credit institution and a reduction to the profit and loss. The credit side of these accounts reflects an adjustment or reversal of the expense account and an increase to income from sale of property, plant and equipment.

Group of accounts 5600
Article 88
The accounts of the Group 5600 (Sub-group of accounts 5610 - 5632) – Allowances for Impairment and Provision Expenses shall disclose allowances for impairment of asset items and provision expenses related to liabilities and off￾balance sheet items. The debit side of these accounts reflects an expense to the credit institution based on the increase in the level of impairment and a reduction to the profit and loss. The credit side of these accounts reflects an income to the credit institutions based on a reduction to the level of impairment and increase to the profit and loss. Group of accounts 5600 (Subgroup of accounts 5641-5661)
Article 89
The accounts of the Group 5600 (Sub-group of accounts 5641-5661) – Non￾Operating and Extraordinary Expenses shall disclose non-operating expenses, extraordinary expenses, extraordinary income and prior year adjustments. The debit side of these accounts reflects an expense to the credit institution and a reduction to the profit and loss. The credit side of these accounts reflects an adjustment or reversal of the expense account and an increase to the extraordinary income account and an increase to the profit and loss. Group of accounts 9000
Article 90
The accounts of the Group 9000 – Off-Balance Sheet Items shall disclose guarantees issued/ received, letters of credit confirmed and uncovered, bills of exchange, cheques, credit obligations given/received, security instruments (collateral), assets held in trust, derivative financial obligations and other.
III. RECORDING OF POSITION AND CHANGES
Manner of recording
Article 91
The position and changes in assets, capital and liabilities, income and expenses, and the disclosure of results of operations shall be recorded on basic (four-digit) accounts in the Chart of Accounts. The credit institutions shall, in their analytical chart of accounts, break down receivables and liabilities by maturity in the manner that meets the disclosure requirements set forth in the IFRS 7.

IV. TRANSITIONAL AND FINAL PROVISIONS
Termination of regulations
Article 92
As from the commencement date of application of this Decision, the Decision on Chart of Accounts for Banks (OGM 82/17, 71/19) shall be repealed. Entry into force
Article 93
This Decision shall enter into force on the day following that of its publication in the Official Gazette of Montenegro, and it shall apply from the date of application of the Law on Credit Institutions (OGM 72/19). COUNCIL OF THE CENTRAL BANK OF MONTENEGRO PREDSJEDAVAJUĆI Decision number. 0101-7776-6/2020 G U V E R N E R, Podgorica, 29 December 2020 Radoje Žugić, m.p.

ANNEX
CHART OF ACCOUNTS FOR CREDIT INSTITUTIONS
ASSETS
Cash and Cash Equivalents
1 0 0 1 Cash in vault Dr
1 0 0 2 Cash in ATMs Dr
1 0 0 3 Cash in transit Dr
1 0 0 4 Damaged banknotes and coins Dr
1 0 0 7 Items for collection: Payment cards Dr 1 0 0 8 Items for collection: Other Dr 1 0 0 9 Funds held with credit institutions abroad (demand deposits) Dr 1 0 1 0 Settlement account held with the Central Bank of Montenegro Dr 1 0 1 2 Other cash Dr 1 0 1 3 Coverage under letters of credit with credit institutions abroad Dr 1 0 1 4 Coverage under guarantees with credit institutions abroad Dr 1 0 1 5 Client’s funds from custody operations Dr 1 0 1 9 Value adjustments of cash and cash equivalents Cr Deposits with Central Banks 1 1 0 3 Central Bank of Montenegro - non-interest bearing Dr 1 1 0 4 Central Bank of Montenegro - interest bearing Dr 1 1 0 7 Other Central Banks - non-interest bearing Dr 1 1 0 8 Other Central Banks - interest bearing Dr 1 1 0 9 Value adjustment of deposits with Central Banks Cr Deposits with Credit institutions and Other Depository Institutions 1 1 2 0 State credit institutions, residents – non-interest bearing Dr 1 1 2 1 State credit institutions, residents – interest bearing Dr 1 1 2 2 State credit institutions, residents –interest bearing (overnight) Dr 1 1 2 4 Private credit institutions, residents - non-interest bearing Dr 1 1 2 5 Private credit institutions, residents - interest bearing Dr 1 1 2 6 Private credit institutions, residents - interest bearing (overnight) Dr 1 1 2 7 Funds in the account, domestic Dr 1 1 2 8 Credit institutions/other depository institutions, non-residents – non-interest bearing (time deposits) Dr 1 1 2 9 Credit institutions/other depository institutions, non-residents – interest bearing (time deposits) Dr 1 1 3 0 Credit institutions/other depository institutions, non-residents – interest bearing (overnight) Dr 1 1 3 1 Credit institutions/other depository institutions (parent credit institution and other members of the group of credit institutions), non-residents – interest bearing (time deposits) Dr 1 1 3 2 Other state depository institutions, residents – non-interest bearing Dr 1 1 3 3 Other state depository institutions, residents – interest bearing Dr 1 1 3 4 Other state depository institutions, residents – interest bearing (overnight) Dr 1 1 3 6 Other private depository institutions, residents – non-interest bearing Dr

1 1 3 7 Other private depository institutions, residents – interest bearing Dr 1 1 3 8 Other private depository institutions, residents – interest bearing (overnight) Dr 1 1 3 9 Credit institutions / other depository institutions (parent credit institution and other members of the group of credit institutions), non-residents – interest-bearing (overnight deposits) Dr 1 1 4 0 Other - non-interest bearing Dr 1 1 4 1 Other - interest bearing Dr 1 1 4 9 Value adjustments of deposits with credit institutions and other depository institutions Cr Purchase and Resell Operations 1 1 5 1 Securities purchased under agreement to resell Dr 1 1 5 9 Value adjustments of purchase and resell operations Cr Derivatives, Financial Assets Held for Trading (fair value) 1 1 6 0 Financial derivatives (instruments held for trading), residents Dr 1 1 6 1 Contracts related to interest rates, non-residents Dr 1 1 6 2 Contracts related to foreign exchange rate and price in equity securities, non￾residents Dr 1 1 6 3 Other contracts that meet the definition of derivatives under IAS 39, non-residents Dr Derivatives, Financial Assets Used as Hedging Instrument (Fair Value) 1 1 6 4 Financial derivatives (instruments used as hedging), residents Dr 1 1 6 5 Contracts related to interest rates, non-residents Dr 1 1 6 6 Contracts related to foreign exchange rate, non-residents Dr 1 1 6 7 Contracts related to price in equity securities, non-residents Dr 1 1 6 8 Other contracts that meet the definition of derivatives under IAS 39, non-residents Dr Held For Trading Securities 1 1 7 0 Shares: non-residents Dr 1 1 7 1 Instruments other than stocks: Government of Montenegro Dr 1 1 7 2 Instruments other than stocks: Local self-government units Dr 1 1 7 3 Shares of undertakings engaged in financial activities: residents Dr 1 1 7 4 Shares of undertakings engaged in non-financial activities: residents Dr 1 1 7 5 Instruments other than stocks – Others: residents Dr 1 1 7 6 Instruments other than stocks: non-residents Dr 1 1 7 7 Non-amortised discount Dr/Cr 1 1 7 8 Non-amortised premiums Dr/Cr Securities Carried at Fair Value through Profit or Loss, Not Held for Trading 1 1 8 0 Securities carried at fair value through profit or loss, not held for trading Dr Securities At Fair Value through Other Comprehensive Income 1 1 9 0 Shares: non-residents Dr 1 1 9 1 Instruments other than stocks: Government of Montenegro Dr 1 1 9 2 Instruments other than stocks: Local self-government units Dr 1 1 9 3 Shares of undertakings engaged in financial activities: residents Dr 1 1 9 4 Shares of undertakings engaged in non-financial activities: residents Dr

1 1 9 5 Instruments other than stocks – Others: residents Dr 1 1 9 6 Instruments other than stocks: non-residents Dr 1 1 9 7 Non-amortized discount Dr/Cr 1 1 9 8 Non-amortized premiums Dr/Cr Loans to Credit institutions and Other Depository Institutions, Financial Institutions and Undertakings Engaged in Financial Activity 1 2 0 1 Central Bank of Montenegro Dr 1 2 0 2 Other Central Banks Dr 1 2 0 3 State credit institutions, residents Dr 1 2 0 4 Private credit institutions, residents Dr 1 2 0 5 Credit institutions / Other depository institutions, non-residents Dr 1 2 0 6 Other state depository institutions, residents Dr 1 2 0 7 Other private depository institutions, residents Dr 1 2 0 8 Other financial institutions, residents Dr 1 2 1 0 Other financial institutions, non-residents Dr 1 2 1 1 Insurance/reinsurance undertakings, residents Dr 1 2 1 2 Insurance/reinsurance undertakings, non-residents Dr 1 2 1 3 Undertakings engaged in financial lease activities, residents Dr 1 2 1 4 Undertakings engaged in financial lease activities, non-residents Dr 1 2 1 5 Undertakings engaged in brokerage activities at capital market, residents Dr 1 2 1 6 Undertakings engaged in brokerage activities at capital market, non-residents Dr 1 2 1 7 Ancillary financial institutions, residents Dr 1 2 1 8 Ancillary financial institutions, non-residents Dr 1 2 2 0 Micro-credit financial institutions, residents Dr 1 2 2 1 Micro-credit financial institutions, non-residents Dr 1 2 Factoring companies, residents Dr 1 2 2 3 Factoring companies, non-residents Dr 1 2 2 9 Value adjustments of loans to credit institutions and other depository institutions, financial institutions and undertakings engaged in financial activity Cr Loans to Non-Financial Sector 1 2 5 1 State undertakings, residents Dr 1 2 5 3 State undertakings, non-residents Dr 1 2 5 4 Local self-government public services Dr 1 2 5 6 Employees Dr 1 2 5 7 Non-government and other non-profit organisations: non-residents Dr 1 2 5 8 Non-government and other non-profit organisations: residents Dr 1 2 6 1 Private undertakings, residents Dr 1 2 6 2 Entrepreneurs Dr 1 2 6 4 Natural persons, residents Dr 1 2 6 5 Natural persons, non-residents Dr 1 2 6 6 Payment cards, residents Dr 1 2 6 7 Payment cards, non-residents Dr 1 2 6 8 Other Dr 1 2 6 9 Value adjustment of loans to non-financial sector Cr

Loans to the Government, Other Budget of Montenegro Beneficiaries, Local Self-Government Units and Regulatory Agencies 1 2 7 1 Government of Montenegro Dr 1 2 7 2 Local self-government units Dr 1 2 7 3 Other Budget of Montenegro beneficiaries Dr 1 2 7 8 Regulatory agencies Dr 1 2 7 9 Value adjustments of loans to the Government, other Budget of Montenegro beneficiaries, local self-government units and regulatory agencies Cr Loans to Funds 1 2 8 1 Investment and Development Fund of Montenegro Dr 1 2 8 2 Employment Agency of Montenegro Dr 1 2 8 3 Health insurance Fund of Montenegro Dr 1 2 8 4 Pension and Disability Fund of Montenegro Dr 1 2 8 5 Voluntary pension funds, residents Dr 1 2 8 6 Funds, non-residents Dr 1 2 8 7 Investment funds, residents Dr 1 2 8 8 Other Funds, residents Dr 1 2 8 9 Value adjustments of loans to Funds Cr Loans Purchased for Trading (securitization) 1 2 9 1 Loans purchased for trading (securitization) Dr Servicing Rights 1 3 0 1 Servicing rights Dr 1 3 0 2 Accumulated amortization of servicing rights Cr 1 3 0 9 Valuation reserves for servicing rights Cr Securities Measured at Amortised Cost 1 4 0 1 Instruments other than stocks: Government of Montenegro Dr 1 4 0 2 Instruments other than stocks: Local self-government units Dr 1 4 0 4 Instruments other than stocks: Other residents Dr 1 4 0 5 Instruments other than stocks: Non-residents Dr 1 4 0 7 Non amortized discount Dr/Cr 1 4 0 8 Non amortized premiums Dr/Cr 1 4 0 9 Value adjustments of securities measured at amortised cost Cr Factoring and Forfaiting 1 4 1 1 Receivables purchased (factoring) Dr 1 4 1 2 Receivables purchased (forfaiting) Dr 1 4 1 9 Value adjustments of factoring and forfaiting Cr Equity Investments (Significant Influence) 1 4 5 1 Equity investments in entities engaged in financial activities, residents Dr 1 4 5 2 Equity investments in entities engaged in non-financial activities, non-residents Dr 1 4 5 3 Equity investments, non-residents Dr 1 4 5 9 Value adjustments of equity investments (significant influence) Cr

Equity Investments in Subsidiaries (Control) 1 4 7 1 Equity investments in subsidiaries engaged in financial activities, residents Dr 1 4 7 2 Equity investments in subsidiaries engaged in non-financial activities, non￾residents Dr 1 4 7 3 Equity investments in subsidiaries, non-residents Dr 1 4 7 9 Value adjustments of equity investments in subsidiaries (control) Cr Joint Ventures 1 4 8 1 Interests in jointly controlled entity engaged in financial activity, residents Dr 1 4 8 2 Interests in jointly controlled entity engaged in non-financial activity, residents Dr 1 4 8 3 Joint ventures, non-residents Dr 1 4 8 9 Value adjustments of joint ventures Cr Credit institution Receivables on Acceptances, Guarantees and Bills of Exchange Outstanding 1 5 0 0 Credit institutions, residents Dr 1 5 0 1 Credit institutions, non-residents Dr 1 5 0 2 Undertakings, residents Dr 1 5 0 3 Government of Montenegro Dr 1 5 0 4 Other beneficiaries of the Budget of Montenegro Dr 1 5 0 5 Local self-government units Dr 1 5 0 6 Public services of local self-government units Dr 1 5 0 7 Other depository institutions/other financial institutions/undertakings engaged in financial activity, residents Dr 1 5 0 8 Other depository institutions/other financial institutions/undertakings engaged in financial activity, non-residents Dr 1 5 0 9 Undertakings, non-residents Dr 1 5 1 0 Entrepreneurs Dr 1 5 1 1 Natural persons, residents Dr 1 5 1 2 Natural persons, non-residents Dr 1 5 1 3 Other Dr 1 5 1 9 Value adjustments of credit institution receivables on acceptances, guarantees and bills of exchange outstanding Cr Receivables from Custody Operations 1 6 0 1 Receivables on equity securities from custody operations with residents Dr 1 6 0 2 Receivables on debt securities from custody operations with residents Dr 1 6 0 3 Receivables on derivatives from custody operations with residents Dr 1 6 0 4 Receivables on custody operations with non-residents Dr 1 6 0 9 Value adjustments of receivables on custody operations Cr Non-Current Assets Held for Sale and Discontinued Operations 1 7 1 0 Non-current assets held for sale – property, plant and equipment Dr 1 7 1 1 Non-current assets held for sale – investment property Dr 1 7 1 2 Non-current assets held for sale – other Dr 1 7 1 9 Value adjustments of assets held for sale Cr

Fixed Assets
1 8 0 1 Land Dr
1 8 0 3 Buildings Dr
1 8 0 4 Depreciation of buildings Cr
1 8 0 5 Investment properties Dr
1 8 0 6 Depreciation of investment properties Cr 1 8 0 7 Plan and equipment Dr 1 8 0 8 Depreciation of plant and equipment Cr 1 8 0 9 Hardware Dr 1 8 1 0 Depreciation of hardware Cr 1 8 1 1 Office equipment Dr 1 8 1 2 Depreciation of office equipment Cr 1 8 1 3 Vehicles Dr 1 8 1 4 Depreciation of vehicles Cr 1 8 1 5 Other fixed assets Dr 1 8 1 6 Depreciation of other fixed assets Cr 1 8 1 7 Small inventory Dr 1 8 1 8 Depreciation of small inventory Cr 1 8 2 0 Right-of-use assets Dr 1 8 2 1 Depreciation of Right-of-use assets Cr 1 8 3 0 Fixed assets under construction Dr Intangible Assets 1 8 5 1 Goodwill Dr 1 8 5 2 Patents/Trademarks Dr 1 8 5 3 Concessions Dr 1 8 5 4 Computer programmes (software) Dr 1 8 5 6 Amortisation - Patents/Trademarks Cr 1 8 5 7 Amortization – Concessions Cr 1 8 5 8 Amortization of other intangible assets Cr 1 8 5 9 Other intangible assets Dr 1 8 6 0 Amortization of computer programmes (software) Cr 1 8 6 1 Intangibles under construction Dr Interest Receivables 1 9 0 1 Receivables on invoiced interests: Loans Dr 1 9 0 2 Receivables on invoiced interests: Securities Dr 1 9 0 3 Receivables on invoiced interests: Deposits Dr 1 9 0 4 Receivables on interest overdrafts Dr 1 9 0 5 Receivables on invoiced interests: lease receivables Dr 1 9 0 6 Receivables on invoiced interests: cashable guarantees Dr 1 9 0 7 Receivables on invoiced interests: purchased receivables Dr 1 9 0 8 Receivables on invoiced interests: other Dr 1 9 0 9 Value adjustments of interest receivables Cr

Other Assets
1 9 1 2 Receivables from agency activities Dr 1 9 1 3 Advance payments Dr 1 9 1 4 Other receivables on fees and commissions Dr 1 9 1 5 Maternity allowances / sick leave payments due from Government Dr 1 9 1 6 Amounts due from frozen FX deposits Dr 1 9 1 7 Suspense account Dr 1 9 1 8 Assets acquired based on collection of receivables Dr 1 9 2 0 Deferred tax asset Dr 1 9 2 1 Current tax assets Dr 1 9 2 2 Precious metals Dr 1 9 2 3 Cheques receivable Dr 1 9 2 4 Receivables from buyers Dr 1 9 2 5 Receivables on payment card operations Dr 1 9 2 6 Receivables from employees Dr 1 9 2 7 Other financial receivables Dr 1 9 2 8 Other business receivables Dr 1 9 2 9 Value adjustment of other assets Cr Accruals and Prepaid Expenses 1 9 3 0 Prepaid expenses 1 9 3 1 Other accrued, yet not collected income Dr 1 9 3 2 Accruals: loans Dr 1 9 3 3 Accruals: securities Dr 1 9 3 4 Accruals: deposits Dr 1 9 3 5 Accruals: lease receivables Dr 1 9 3 6 Accruals: guarantees Dr 1 9 3 7 Accruals: purchased receivables Dr 1 9 3 8 Accruals – other Dr 1 9 3 9 Value adjustment of accruals Cr Accruals of Fees 1 9 4 1 Accruals of fees: loans Cr 1 9 4 2 Accruals of fees: securities Cr 1 9 4 3 Accruals of fees: deposits Cr 1 9 4 4 Accruals of fees: lease receivables Cr 1 9 4 5 Accruals of fees: guarantees Cr 1 9 4 6 Accruals of fees: purchased receivables Cr Changes in the Fair Value of Items Being Subject to Hedging 1 9 5 0 Effects of changes in the fair value of items being subject to hedging in respect of the group of financial assets Dr 1 9 5 1 Effects of changes in the fair value of items being subject to hedging in foreign currency in respect of the group of financial assets Dr TOTAL ASSETS (from 1001 – 1951)

LIABILITIES
Borrowings from Central Banks
2 1 0 1 Central Bank of Montenegro Cr
2 1 0 2 Other Central Banks Cr
Short-Term Borrowings
2 1 State credit institutions, residents Cr 2 1 1 2 Private credit institutions, residents Cr 2 1 1 3 Credit institutions, non-residents Cr 2 1 1 4 Other state depository institutions, residents Cr 2 1 1 5 Other private depository institutions, residents Cr 2 1 1 6 Other depository institutions/other financial institutions, non-residents Cr 2 1 1 7 Parent credit institutions Cr 2 1 1 8 Other members of the group of credit institutions Cr 2 1 1 9 Government of Montenegro and other Budget of Montenegro beneficiaries Cr 2 1 2 0 Other Cr Long-Term Borrowings 2 1 3 1 State credit institutions, residents Cr 2 1 3 2 Private credit institutions, residents Cr 2 1 3 3 Credit institutions, non-residents Cr 2 1 3 4 Other state depository institutions, residents Cr 2 1 3 5 Other private depository institutions, residents Cr 2 1 3 6 Other depository institutions/other financial institutions, non-residents Cr 2 1 3 7 Parent credit institutions Cr 2 1 3 8 Other members of the group of credit institutions Cr 2 1 3 9 Government of Montenegro and other Budget of Montenegro beneficiaries Cr 2 1 4 0 Other Cr Liabilities on Securities Sold Under Repurchase Agreement 2 1 5 1 Securities sold under repurchase agreement Cr Liabilities Based on Custody Operations 2 2 0 1 Liabilities on custody operations with residents 2 2 0 2 Liabilities on custody operations with non-residents Demand (Sight) Deposits of Credit Institutions, Other Depository Institutions, Other Financial Institutions and Undertakings Engaged in Financial Activity 2 3 0 1 Undertakings engaged in financial lease operations, residents – non-interest bearing Cr 2 3 0 2 Undertakings engaged in financial lease operations, residents – interest bearing Cr 2 3 0 3 Undertakings engaged in brokerage activities at capital market, residents – non￾interest bearing Cr

2 3 0 4 Undertakings engaged in brokerage activities at capital market, residents - interest bearing Cr 2 3 0 5 State credit institutions, residents – non-interest bearing Cr 2 3 0 6 State credit institutions, residents – interest bearing Cr 2 3 0 7 Private credit institutions, residents – non-interest bearing Cr 2 3 0 8 Private credit institutions, residents – interest bearing Cr 2 3 0 9 Credit institutions, non-residents – non-interest bearing Cr 2 3 1 0 Credit institutions, non-residents – interest bearing Cr 2 3 1 1 Other state depository institutions, residents – non-interest bearing Cr 2 3 1 2 Other state depository institutions, residents – interest bearing Cr 2 3 1 3 Other private depository institutions, residents – non-interest bearing Cr 2 3 1 4 Other private depository institutions, residents – interest bearing Cr 2 3 1 5 Other depository institutions/other financial institutions/undertakings engaged in financial activity, non-residents – non-interest bearing Cr 2 3 1 6 Other depository institutions/other financial institutions/undertakings engaged in financial activity, non-residents – interest bearing Cr 2 3 1 7 Others – non-interest bearing Cr 2 3 1 8 Others – interest bearing Cr 2 3 1 9 Central Bank of Montenegro, residents Cr 2 3 2 0 Central Bank of Montenegro, non-residents Cr Demand (Sight) Deposits of Non-Financial Sector 2 3 2 1 State undertakings, residents - non-interest bearing Cr 2 3 2 2 State undertakings, residents - interest bearing Cr 2 3 2 3 Public services of local self-government units – non-interest bearing Cr 2 3 2 4 Public services of local self-government units – interest bearing Cr 2 3 2 5 Private undertakings, residents - non-interest bearing Cr 2 3 2 6 Private undertakings, residents - interest bearing Cr 2 3 2 7 Entrepreneurs - non-interest bearing Cr 2 3 2 8 Entrepreneurs - interest bearing Cr 2 3 2 9 Undertakings, non-residents - non-interest bearing Cr 2 3 3 0 Undertakings, non-residents - interest bearing Cr 2 3 3 1 Natural persons, residents – non-interest bearing Cr 2 3 3 2 Natural persons, residents –interest bearing Cr 2 3 Natural persons, non-residents – non-interest bearing Cr 2 3 3 4 Natural persons, non-residents –interest bearing Cr 2 3 3 5 Undertakings, funds for payment and coverage under letters of credit Cr 2 3 3 6 Undertakings, funds for payment and coverage under guarantees Cr 2 3 3 9 Non-government and other non-profit organizations, residents – non-interest bearing Cr 2 3 4 0 Non-government and other non-profit organizations, residents – interest bearing Cr 2 3 4 1 Non-government and other non-profit organizations, non-residents – non-interest bearing Cr 2 3 4 2 Non-government and other non-profit organizations, non-residents – interest bearing Cr 2 3 4 3 Others - non-interest bearing Cr 2 3 4 4 Others - interest bearing Cr

Demand (Sight) Deposits of the Government, Other Budget of Montenegro Beneficiaries and Local Self-Government Units 2 3 4 5 Government of Montenegro - non-interest bearing Cr 2 3 4 6 Government of Montenegro - interest bearing Cr 2 3 4 7 Local self-government units - non-interest bearing Cr 2 3 4 8 Local self-government units - interest bearing Cr 2 3 4 9 Other Budget of Montenegro beneficiaries- non-interest bearing Cr 2 3 5 0 Other Budget of Montenegro beneficiaries- interest bearing Cr 2 3 5 1 Others - non- interest bearing Cr 2 3 5 2 Others - interest bearing Cr Demand (Sight) Deposits of Regulatory Agencies 2 3 5 3 Regulatory agencies, residents – non-interest bearing Cr 2 3 5 4 Regulatory agencies, residents –interest bearing Cr 2 3 5 5 Regulatory agencies, non-residents – non-interest bearing Cr 2 3 5 6 Regulatory agencies, non-residents – interest bearing Cr Demand (Sight) Deposits of Funds 2 3 6 1 Investment and Development Fund of Montenegro – non-interest bearing Cr 2 3 6 2 Investment and Development Fund of Montenegro – interest bearing Cr 2 3 6 3 Employment Agency of Montenegro - non-interest bearing Cr 2 3 6 4 Employment Agency of Montenegro - interest bearing Cr 2 3 6 5 Health Insurance Fund - non-interest bearing Cr 2 3 6 6 Health Insurance Fund - interest bearing Cr 2 3 6 7 Pension and Disability Insurance Fund - non-interest bearing Cr 2 3 6 8 Pension and Disability Insurance Fund - interest bearing Cr 2 3 6 9 Voluntary pension funds, residents - non-interest bearing Cr 2 3 7 0 Voluntary pension funds, residents - interest bearing Cr 2 3 7 1 Funds, non-residents - non-interest bearing Cr 2 3 7 2 Funds, non-residents - interest bearing Cr 2 3 7 3 Investment Funds, residents - non-interest bearing Cr 2 3 7 4 Investment Funds, residents - interest bearing Cr 2 3 7 5 Others, residents - non-interest bearing Cr 2 3 7 6 Others, residents - interest bearing Cr 2 3 7 7 Voluntary pension funds – non-residents, non-interest bearing Cr 2 3 7 8 Voluntary pension funds – non-residents, interest bearing Cr Demand (Sight) Deposits of Insurance/Reinsurance Undertakings 2 3 8 1 Private insurance/reinsurance undertakings, residents – non-interest bearing Cr 2 3 8 2 Private insurance/reinsurance undertakings, residents –interest bearing Cr 2 3 8 3 State insurance/reinsurance undertakings, residents – non-interest bearing Cr 2 3 8 4 State insurance/reinsurance undertakings, residents –interest bearing Cr 2 3 8 5 Insurance/reinsurance undertakings, non-residents – non-interest bearing Cr 2 3 8 6 Insurance/reinsurance undertakings, non-residents – interest bearing Cr

Demand (Sight) Deposits of Other Financial Institutions 2 3 8 7 Factoring companies, non-residents, non-interest bearing Cr 2 3 8 8 Factoring companies, non-residents, interest bearing Cr 2 3 8 9 Factoring companies, residents, non-interest bearing Cr 2 3 9 0 Factoring companies, residents, interest bearing Cr 2 3 9 1 Micro-credit financial institutions, residents, non-interest bearing Cr 2 3 9 2 Micro-credit financial institutions, residents, interest bearing Cr 2 3 9 3 Micro-credit financial institutions, non-residents, non-interest bearing Cr 2 3 9 4 Micro-credit financial institutions, non-residents, interest bearing Cr 2 3 9 5 Ancillary financial institutions, residents, non-interest bearing Cr 2 3 9 6 Ancillary financial institutions, residents, interest bearing Cr 2 3 9 7 Ancillary financial institutions, non-residents, non-interest bearing Cr 2 3 9 8 Ancillary financial institutions, non-residents, interest bearing Cr Funds at Escrow Account 2 4 0 1 Credit institutions, residents – non-interest bearing Cr 2 4 0 2 Credit institutions, residents –interest bearing Cr 2 4 0 3 Credit institutions, non-residents – non-interest bearing Cr 2 4 0 4 Credit institutions, non-residents –interest bearing Cr 2 4 0 5 Other depository institutions, residents – non-interest bearing Cr 2 4 0 6 Other depository institutions, residents –interest bearing Cr 2 4 0 7 Other depository institutions, non-residents – non-interest bearing Cr 2 4 0 8 Other depository institutions, non-residents –interest bearing Cr 2 4 0 9 Other financial institutions/undertakings engaged in financial activity, residents – non-interest bearing Cr 2 4 1 0 Other financial institutions/undertakings engaged in financial activity, residents – interest bearing Cr 2 4 1 1 Other financial institutions/undertakings engaged in financial activity, non￾residents – non-interest bearing Cr 2 4 1 2 Other financial institutions/undertakings engaged in financial activity, non￾residents –interest bearing Cr 2 4 1 3 State undertakings - non-interest bearing Cr 2 4 1 4 State undertakings - interest bearing Cr 2 4 1 5 Private undertakings, residents - non-interest bearing Cr 2 4 1 6 Private undertakings, residents - interest bearing Cr 2 4 1 7 Undertakings, non-residents - non-interest bearing Cr 2 4 1 8 Undertakings, non-residents - interest bearing Cr 2 4 1 9 Entrepreneurs, non-interest bearing Cr 2 4 2 0 Entrepreneurs, interest bearing Cr 2 4 2 1 Government of Montenegro – non-interest bearing Cr 2 4 2 2 Government of Montenegro –interest bearing Cr 2 4 2 3 Other Budget of Montenegro beneficiaries- non-interest bearing Cr 2 4 2 4 Other Budget of Montenegro beneficiaries- interest bearing Cr 2 4 2 5 Local self-government units - non-interest bearing Cr 2 4 2 6 Local self-government units - interest bearing Cr 2 4 2 7 Public services of local self-government units – non-interest bearing Cr 2 4 2 8 Public services of local self-government units – interest bearing Cr 2 4 2 9 State funds – non-interest
bearing Cr

2 4 3 0 State funds –interest bearing Cr
2 4 3 1 Regulatory agencies – non-interest bearing Cr 2 4 3 2 Regulatory agencies –interest bearing Cr 2 4 3 3 Private funds, residents – non-interest bearing Cr 2 4 3 4 Private funds, residents –interest bearing Cr 2 4 3 5 Private funds, non-residents – non-interest bearing Cr 2 4 3 6 Private funds, non-residents –interest bearing Cr 2 4 3 7 Natural persons, residents – non-interest bearing Cr 2 4 3 8 Natural persons, residents –interest bearing Cr 2 4 3 9 Natural persons, non-residents – non-interest bearing Cr 2 4 4 0 Natural persons, non-residents –interest bearing Cr 2 4 4 1 Non-government and other non-profit organizations, residents – non-interest bearing Cr 2 4 4 2 Non-government and other non-profit organizations, residents – interest bearing Cr 2 4 4 3 Non-government and other non-profit organizations, non-residents – non-interest bearing Cr 2 4 Non-government and other non-profit organizations, non-residents – interest bearing Cr 2 4 4 5 Other - non-interest bearing Cr 2 4 4 6 Other - interest bearing Cr Time (Term) Deposits of Credit institutions, Other Depository Institutions, Other Financial Institutions and Undertakings Engaged in Financial Activity 2 5 0 1 Undertakings engaged in financial lease operations, residents – non-interest bearing Cr 2 5 0 2 Undertakings engaged in financial lease operations, residents – interest bearing Cr 2 5 0 3 Undertakings engaged in brokerage activities at capital market, residents – non￾interest bearing Cr 2 5 0 4 Undertakings engaged in brokerage activities at capital market, residents - interest bearing Cr 2 5 0 5 State credit institutions, residents – non-interest bearing Cr 2 5 0 6 State credit institutions, residents – interest bearing Cr 2 5 0 7 Private credit institutions, residents – non-interest bearing Cr 2 5 0 8 Private credit institutions, residents – interest bearing Cr 2 5 0 9 Credit institutions, non-residents – non-interest bearing Cr 2 5 1 0 Credit institutions, non-residents – interest bearing Cr 2 5 1 1 Other state depository institutions, residents – non-interest bearing Cr 2 5 1 2 Other state depository institutions, residents – interest bearing Cr 2 5 1 3 Other private depository institutions, residents – non-interest bearing Cr 2 5 1 4 Other private depository institutions, residents – interest bearing Cr 2 5 1 5 Other depository institutions/other financial institutions/undertakings engaged in financial activity, non-residents – non-interest bearing Cr 2 5 1 6 Other depository institutions/other financial institutions/undertakings engaged in financial activity, non-residents – interest bearing Cr 2 5 1 7 Others – non-interest bearing Cr 2 5 1 8 Others – interest bearing Cr 2 5 1 9 Central Bank of Montenegro, residents Cr

2 5 2 0 Central Bank of Montenegro, non-residents Cr Time (Term) Deposits of Non-Financial Sector 2 5 2 1 State undertakings, residents - non-interest bearing Cr 2 5 2 2 State undertakings, residents - interest bearing Cr 2 5 2 3 Public services of local self-government units – non-interest bearing Cr 2 5 2 4 Public services of local self-government units – interest bearing Cr 2 5 2 5 Private undertakings, residents - non-interest bearing Cr 2 5 2 6 Private undertakings, residents - interest bearing Cr 2 5 2 7 Entrepreneurs - non-interest bearing Cr 2 5 2 8 Entrepreneurs - interest bearing Cr 2 5 2 9 Undertakings, non-residents - non-interest bearing Cr 2 5 3 0 Undertakings, non-residents - interest bearing Cr 2 5 3 1 Natural persons, residents – non-interest bearing Cr 2 5 3 2 Natural persons, residents –interest bearing Cr 2 5 3 3 Natural persons, non-residents – non-interest bearing Cr 2 5 3 4 Natural persons, non-residents –interest bearing Cr 2 5 3 9 Non-government and other non-profit organizations, residents – non-interest bearing Cr 2 5 4 0 Non-government and other non-profit organizations, residents – interest bearing Cr 2 5 4 1 Non-government and other non-profit organizations, non-residents – non-interest bearing Cr 2 5 4 2 Non-government and other non-profit organizations, non-residents – interest bearing Cr 2 5 4 3 Others - non-interest bearing Cr 2 5 4 4 Others - interest bearing Cr Time (Term) Deposits of the Government, Other Budget of Montenegro Beneficiaries, Local Self-Government Units 2 5 4 5 Government of Montenegro - non-interest bearing Cr 2 5 4 6 Government of Montenegro - interest bearing Cr 2 5 4 7 Local self-government units - non-interest bearing Cr 2 5 4 8 Local self-government units - interest bearing Cr 2 5 4 9 Other Budget of Montenegro beneficiaries- non-interest bearing Cr 2 5 5 0 Other Budget of Montenegro beneficiaries- interest bearing Cr 2 5 5 1 Others - non- interest bearing Cr 2 5 5 2 Others - interest bearing Cr Time (Term) Deposits of Regulatory Agencies 2 5 5 3 Regulatory agencies, residents – non-interest bearing Cr 2 5 5 4 Regulatory agencies, residents –interest bearing Cr 2 5 Regulatory agencies, non-residents – non-interest bearing Cr 2 5 5 6 Regulatory agencies, non-residents – interest bearing Cr Time (Term) Deposits of Funds 2 5 6 1 Investment and Development Fund of Montenegro – non-interest bearing Cr 2 5 6 2 Investment and Development Fund of Montenegro – interest bearing Cr 2 5 6 3 Employment Agency of Montenegro - non-interest bearing Cr

2 5 6 4 Employment Agency of Montenegro - interest bearing Cr 2 5 6 5 Health Insurance Fund - non-interest bearing Cr 2 5 6 6 Health Insurance Fund - interest bearing Cr 2 5 6 7 Pension and Disability Insurance Fund - non-interest bearing Cr 2 5 6 8 Pension and Disability Insurance Fund - interest bearing Cr 2 5 6 9 Voluntary pension funds, residents - non-interest bearing Cr 2 5 7 0 Voluntary pension funds, residents - interest bearing Cr 2 5 7 1 Funds, non-residents - non-interest bearing Cr 2 5 7 2 Funds, non-residents - interest bearing Cr 2 5 7 3 Investment Funds, residents - non-interest bearing Cr 2 5 7 4 Investment Funds, residents - interest bearing Cr 2 5 7 5 Others, residents - non-interest bearing Cr 2 5 7 6 Others, residents - interest bearing Cr 2 5 7 7 Voluntary pension funds – non-residents, non-interest bearing Cr 2 5 7 8 Voluntary pension funds – non-residents, interest bearing Cr Time (Term) Deposits of Insurance/Reinsurance Undertakings 2 5 8 1 Private insurance/reinsurance undertakings, residents – non-interest bearing Cr 2 5 8 2 Private insurance/reinsurance undertakings, residents –interest bearing Cr 2 5 8 3 State insurance/reinsurance undertakings, residents – non-interest bearing Cr 2 5 8 4 State insurance/reinsurance undertakings, residents –interest bearing Cr 2 5 8 5 Insurance/reinsurance undertakings, non-residents – non-interest bearing Cr 2 5 8 6 Insurance/reinsurance undertakings, non-residents –interest bearing Cr Time (Term) Deposits of Other Financial Institutions 2 5 8 7 Factoring companies, non-residents, non-interest bearing Cr 2 5 8 8 Factoring companies, non-residents, interest bearing Cr 2 5 8 9 Factoring companies, residents, non-interest bearing Cr 2 5 9 0 Factoring companies, residents, interest bearing Cr 2 5 9 1 Micro-credit financial institutions, residents, non-interest bearing Cr 2 5 9 2 Micro-credit financial institutions, non-residents, interest bearing Cr 2 5 9 3 Micro-credit financial institutions, non-residents, non-interest bearing Cr 2 5 9 4 Micro-credit financial institutions, non-residents, interest bearing Cr 2 5 9 5 Ancillary financial institutions, residents, non-interest bearing Cr 2 5 9 6 Ancillary financial institutions, residents, interest bearing Cr 2 5 9 7 Ancillary financial institutions, non-residents, non-interest bearing Cr 2 5 9 8 Ancillary financial institutions, non-residents, interest bearing Cr Credit institution's Liabilities on Acceptances, Guarantees and Bills of Exchange Outstanding 2 6 0 0 Credit institutions, residents Cr 2 6 0 1 Credit institutions, non-residents Cr 2 6 0 2 Undertakings, residents Cr 2 6 0 4 Government of Montenegro Cr 2 6 0 5 Other beneficiaries of the Budget of Montenegro Cr 2 6 0 6 Local self-government units Cr 2 6 0 7 Public services of local self-government units Cr 2 6 0 8 Other depository institutions/other financial institutions/undertakings engaged in financial activity, residents Cr

2 6 0 9 Other depository institutions/other financial institutions/undertakings engaged in financial activity, non-residents Cr 2 6 1 0 Undertakings, non-residents Cr 2 6 1 1 Entrepreneurs Cr 2 6 1 2 Natural persons, residents Cr 2 6 1 3 Natural persons, non-residents Cr 2 6 1 4 Others Cr Liabilities on Non-Current Assets Held for Sale and Discontinued Operations 2 7 0 1 Liabilities on non-current assets held for sale Cr 2 7 0 2 Liabilities on discontinued operations Cr Liabilities on Securities Issued 2 8 0 0 Credit institutions, residents Cr 2 8 0 1 Credit institutions, non-residents Cr 2 8 0 2 Government of Montenegro Cr 2 8 0 3 Other beneficiaries of the Budget of Montenegro Cr 2 8 0 4 Local self-government units Cr 2 8 0 5 Other depository institutions/other financial institutions/undertakings engaged in financial activity, residents Cr 2 8 0 6 Other depository institutions/other financial institutions/undertakings engaged in financial activity, non-residents Cr 2 8 0 7 Undertakings, residents Cr 2 8 0 8 Undertakings, non-residents Cr 2 8 0 9 Others Cr 2 8 1 0 Non amortised discount Dr/Cr Derivatives, Financial Liabilities Held for Trading (Fair Value) 2 8 1 1 Contracts related to interest rates, non-residents Cr 2 8 1 2 Contracts related to foreign exchange rate and price in equity securities, non￾residents Cr 2 8 1 3 Other contracts that meet the definition of derivatives under IAS 39, non-residents Cr 2 8 1 4 Financial derivatives, residents Cr Derivatives, Financial Liabilities Used as Hedging Instruments (Fair Value) 2 8 2 1 Contracts related to interest rates, non-residents Cr 2 8 2 2 Contracts related to foreign exchange rate, non-residents Cr 2 8 2 3 Contracts related to price in equity securities, non-residents Cr 2 8 2 4 Other contracts that meet the definition of derivatives under IAS 39, non-residents Cr 2 8 2 5 Financial derivatives, residents Cr Tier 2 instrument s of a credit institution 2 8 5 0 Tier 2 instrument Cr 2 8 5 1 Tier 2 instrument: parent credit institution and other members of the group of credit institutions Cr

Interest Payable and Other Liabilities
2 9 0 1 Interest invoiced: Deposits Cr
2 9 0 2 Interest invoiced: Securities Cr
2 9 0 3 Interest invoiced: loans and borrowings Cr 2 9 0 4 Interest overdraft Cr 2 9 0 5 Interest invoiced: Tier 2 instrument Cr 2 9 0 6 Interest invoiced: derivative financial liabilities Cr 2 9 0 7 Payables on agency activities Cr 2 9 0 8 Prepayment received Cr 2 9 0 9 Other tax payable Cr 2 9 1 0 Dividends payable Cr 2 9 1 1 Payroll: salaries Cr 2 9 1 2 Payroll: Pension and Disability Insurance Fund Cr 2 9 1 3 Payroll: Health Cr 2 9 1 4 Payroll: Unemployment Cr 2 9 1 5 Payroll: Other Cr 2 9 1 6 Payroll: local self-government unit, construction land Cr 2 9 1 7 Payroll: Court decisions Cr 2 9 1 8 Invoiced liabilities: suppliers Cr 2 9 1 9 Payables for fees and commissions Cr 2 9 2 0 Due to citizens for frozen foreign currency deposits Cr 2 9 2 1 Liabilities under financial lease (capital) Cr 2 9 2 2 Liabilities on payment cards Cr 2 9 2 3 Current tax payables Cr 2 9 2 4 Deferred tax liabilities Cr 2 9 2 5 Other liabilities Cr 2 9 2 6 Other financial liabilities Cr 2 9 2 7 Lease liabilities Cr 2 9 2 9 Suspense account Cr Provisioning 2 9 3 0 Provisions for losses on off balance sheet assets Cr 2 9 3 1 Provisions for severance payments and jubilee rewards Cr 2 9 3 2 Provisions for unused annual leaves Cr 2 9 3 3 Provisions for lawsuits Cr 2 9 3 4 Provisions for other Cr Deferrals and Prepaid Income 2 9 4 1 Deferrals: loans Cr 2 9 4 2 Deferrals: debt securities Cr 2 9 4 3 Deferrals: deposits Cr 2 9 4 4 Deferrals: Tier 2 instrument Cr 2 9 4 5 Deferrals: derivative financial liabilities Cr 2 9 4 6 Deferrals: other Cr 2 9 4 7 Prepaid income Cr 2 9 4 8 Accrued expenses Cr

Deferrals on Other Bases
2 9 5 1 Deferrals of fees: loans Dr
2 9 5 2 Deferrals of fees: debt securities Dr 2 9 5 3 Deferrals of fees: deposits Dr 2 9 5 4 Deferrals of fees: Tier 2 instrument Dr 2 9 5 5 Deferrals of fees: other Dr 2 9 8 9 Non-controlling interests in equity (minority interests) Cr 2 9 Special account of opening/closing general ledger Cr Effects of Changes in the Fair Value of Items Being Subject to Hedging 2 9 6 0 Effects of changes in the fair value of items being subject to hedging in respect of the group of financial assets Cr 2 9 6 1 Effects of changes in the fair value of items being subject to hedging in foreign currency in respect of the group of financial assets Cr TOTAL LIABILITIES (from 2101 – 2999) CAPITAL AND RESERVES (from 3001 – 3999) 3 0 0 1 Issued capital - ordinary shares Cr 3 0 0 2 Issued capital - preferred shares Cr 3 0 0 3 Issue premium Cr 3 0 0 4 Acquired shares Dr 3 0 0 6 Reserves based on fair value Dr/Cr 3 0 0 7 Other reserves Cr 3 0 0 8 Profit and loss: accumulated from prior years Cr 3 0 0 9 Profit and loss: current year Cr 3 0 1 0 Effects of IFRS 9 implementation starting from 1 January 2018 Dr/Cr 3 0 1 4 Reserves for acquired treasury shares Cr 3 0 2 5 Provisions for estimated losses under regulatory requirement Cr 3 0 8 8 Financial assets at fair value through other comprehensive income Dr/Cr 3 9 Income summary Dr/Cr TOTAL LIABILITIES AND CAPITAL (from 2101 – 3999)

PROFIT AND LOSS ACCOUNTS
Interest income (TOTAL from 4011 – 4099)
Credit institutions
4 0 1 1 Short-term funds Cr
4 0 1 2 Repurchase operations Cr
4 0 1 4 Securities Cr
4 0 1 5 Loans Cr
4 0 1 8 Interest income on impaired placements Cr 4 0 1 9 Other Cr Other Depository Institutions, Other Financial Institutions and Undertakings Engaged in Financial Activity 4 0 2 1 Short-term funds Cr 4 0 2 2 Repurchase operations Cr 4 0 2 4 Securities Cr 4 0 2 5 Loans Cr 4 0 2 8 Interest income on impaired placements Cr 4 0 2 9 Other Cr Government of Montenegro, Other Budget of Montenegro Beneficiaries and Regulatory Agencies 4 0 3 1 Short-term funds Cr 4 0 3 2 Repurchase operations Cr 4 0 3 4 Securities Cr 4 0 3 5 Loans Cr 4 0 3 8 Interest income on impaired placements Cr 4 0 3 9 Other Cr Local Self-Government Units 4 0 4 1 Short-term funds Cr 4 0 4 2 Repurchase operations Cr 4 0 4 4 Securities Cr 4 0 4 5 Loans Cr 4 0 4 8 Interest income on impaired placements Cr 4 0 4 9 Other Cr Private Undertakings 4 0 5 1 Short-term funds Cr 4 0 5 2 Repurchase operations Cr 4 0 5 4 Securities Cr 4 0 5 5 Loans Cr 4 0 5 8 Interest income on impaired placements Cr 4 0 5 9 Other Cr Natural Persons 4 0 6 1 Short term funds Cr

4 0 6 5 Loans Cr
4 0 6 8 Interest income on impaired placements Cr 4 0 6 9 Other Cr Entrepreneurs 4 0 7 1 Short term funds Cr 4 0 7 5 Loans Cr 4 0 7 8 Interest income on impaired placements Cr 4 0 7 9 Other Cr State Undertakings 4 0 8 1 Short-term funds Cr 4 0 8 2 Repurchase operations Cr 4 0 8 4 Securities Cr 4 0 8 5 Loans Cr 4 0 8 8 Interest income on impaired placements Cr 4 0 8 9 Other Cr Other 4 0 9 1 Short-term funds Cr 4 0 9 2 Repurchase operations Cr 4 0 9 5 Loans Cr 4 0 9 8 Interest income on impaired placements Cr 4 0 9 9 Other Cr Interest Expenses (TOTAL from 4111 – 4197) Credit institutions 4 1 Deposits Dr 4 1 1 2 Repurchase operations Dr 4 1 1 5 Other borrowings Dr 4 1 1 6 Tier 2 instrument Dr 4 1 1 7 Securities Dr 4 1 1 9 Other Dr Other Depository Institutions, Other Financial Institutions and Undertakings Engaged in Financial Activity 4 1 2 1 Deposits Dr 4 1 2 2 Repurchase operations Dr 4 1 2 5 Other borrowings Dr 4 1 2 6 Tier 2 instrument Dr 4 1 2 7 Securities Dr 4 1 2 9 Other Dr Government of Montenegro, Other Budget of Montenegro Beneficiaries and Regulatory Agencies 4 1 3 1 Deposits Dr 4 1 3 2 Repurchase operations Dr 4 1 3 5 Other borrowings Dr 4 1 3 6 Tier 2 instrument Dr

4 1 3 7 Securities Dr
4 1 3 9 Other Dr
Local Self-Government Units
4 1 4 1 Deposits Dr
4 1 4 2 Repurchase operations Dr
4 1 4 5 Other borrowings Dr
4 1 4 6 Tier 2 instrument Dr
4 1 4 7 Securities Dr
4 1 4 9 Other Dr
Private Undertakings
4 1 5 1 Deposits Dr
4 1 5 2 Repurchase operations Dr
4 1 5 5 Other borrowings Dr
4 1 5 6 Tier 2 instrument Dr
4 1 5 7 Securities Dr
4 1 5 9 Other Dr
Natural Persons
4 1 6 1 Deposits Dr
4 1 6 6 Tier 2 instrument Dr
4 1 6 7 Securities Dr
4 1 6 9 Other
Entrepreneurs
4 1 7 1 Deposits Dr
4 1 7 9 Other Dr
State Undertakings
4 1 8 1 Deposits Dr
4 1 8 2 Repurchase operations Dr
4 1 8 5 Other borrowings Dr
4 1 8 9 Other Dr
Other
4 1 9 1 Deposits other persons Dr
4 1 9 2 Repurchase operations Dr
4 1 9 3 Lease Operations Dr
4 1 9 5 Other borrowings Dr
4 1 9 6 Tier 2 instrument Dr
4 1 9 7 Other Dr
Fee and Commission Income (TOTAL from 4310 – 4399) Credit institutions 4 3 1 0 Payment cards and ATM operations Cr 4 3 1 1 Loans Cr 4 3 1 2 Off balance sheet dealings Cr 4 3 1 3 Sureties Cr

4 3 1 4 Payment system Cr
4 3 1 5 Investment banking Cr
4 3 1 6 Accountancy Cr
4 3 1 7 Deposit insurance Cr
4 3 1 8 Other services Cr
4 3 1 9 Other Cr
Other Depository Institutions, Other Financial Institutions and Undertakings Engaged in Financial Activity 4 3 2 0 Payment cards and ATM operations Cr 4 3 2 1 Loans Cr 4 3 2 2 Off balance sheet dealings Cr 4 3 2 3 Sureties Cr 4 3 2 4 Payment system Cr 4 3 2 5 Investment banking Cr 4 3 2 6 Accountancy Cr 4 3 2 7 Deposit insurance Cr 4 3 2 8 Other services Cr 4 3 2 9 Other Cr Government of Montenegro, Other Budget of Montenegro Beneficiaries and Regulatory Agencies 4 3 3 0 Payment cards and ATM operations Cr 4 3 3 1 Loans Cr 4 3 3 2 Off balance sheet dealings Cr 4 3 Sureties Cr 4 3 3 4 Payment system Cr 4 3 3 5 Investment banking Cr 4 3 3 6 Accountancy Cr 4 3 3 7 Deposit insurance Cr 4 3 3 8 Other services Cr 4 3 3 9 Other Cr Local Self-Government Units 4 3 4 0 Payment cards and ATM operations Cr 4 3 4 1 Loans Cr 4 3 4 2 Off balance sheet dealings Cr 4 3 4 3 Sureties Cr 4 3 4 4 Payment system Cr 4 3 4 5 Investment banking Cr 4 3 4 6 Accountancy Cr 4 3 4 7 Deposit insurance Cr 4 3 4 8 Other services Cr 4 3 4 9 Other Cr Private Undertakings 4 3 5 0 Payment cards and ATM operations Cr 4 3 5 1 Loans Cr 4 3 5 2 Off balance sheet dealings Cr

4 3 5 3 Sureties Cr
4 3 5 4 Payment system Cr
4 3 5 5 Investment banking Cr
4 3 5 6 Accountancy Cr
4 3 5 7 Deposit insurance Cr
4 3 5 8 Other services Cr
4 3 5 9 Other Cr
Natural Persons
4 3 6 0 Payment cards and ATM operations Cr 4 3 6 1 Loans Cr 4 3 6 2 Off balance sheet dealings Cr 4 3 6 3 Sureties Cr 4 3 6 4 Payment system Cr 4 3 6 5 Investment banking Cr 4 3 6 6 Accountancy Cr 4 3 6 7 Deposit insurance Cr 4 3 6 8 Other services Cr 4 3 6 9 Other Cr Entrepreneurs 4 3 7 0 Payment cards and ATM operations Cr 4 3 7 1 Loans Cr 4 3 7 2 Off balance sheet dealings Cr 4 3 7 3 Sureties Cr 4 3 7 4 Payment system Cr 4 3 7 5 Investment banking Cr 4 3 7 6 Accountancy Cr 4 3 7 7 Deposit insurance Cr 4 3 7 8 Other services Cr 4 3 7 9 Other Cr State Undertakings 4 3 8 0 Payment cards and ATM operations Cr 4 3 8 1 Loans Cr 4 3 8 2 Off balance sheet dealings Cr 4 3 8 3 Sureties Cr 4 3 8 4 Payment system Cr 4 3 8 5 Investment banking Cr 4 3 8 6 Accountancy Cr 4 3 8 7 Deposit insurance Cr 4 3 8 8 Other services Cr 4 3 8 9 Other Cr Other 4 3 9 0 Payment cards and ATM operations Cr 4 3 9 1 Loans Cr 4 3 9 2 Off balance sheet dealings Cr 4 3 9 3 Sureties Cr

4 3 9 4 Payment system Cr
4 3 9 5 Investment banking Cr
4 3 9 6 Accountancy Cr
4 3 9 7 Deposit insurance Cr
4 3 9 8 Other services Cr
4 3 9 9 Other Cr
Fee and Commission Expenses (TOTAL from 4510 – 4598) Credit institutions 4 5 1 0 Payment cards and ATM operations Dr 4 5 1 1 Loans Dr 4 5 1 2 Off balance sheet dealings Dr 4 5 1 3 Payment system expense to CBCG Dr 4 5 1 4 Payment system expense to other credit institutions Dr 4 5 1 5 Sureties Dr 4 5 1 6 Investment banking Dr 4 5 1 7 Accountancy Dr 4 5 1 8 Deposit insurance Dr 4 5 1 9 Other Dr Other Depository Institutions, Other Financial Institutions and Undertakings Engaged in Financial Activity 4 5 2 0 Payment cards and ATM operations Dr 4 5 2 1 Loans Dr 4 5 2 2 Off balance sheet dealings Dr 4 5 2 3 Sureties Dr 4 5 2 4 Payment system Dr 4 5 2 5 Investment banking Dr 4 5 2 6 Accountancy Dr 4 5 2 7 Deposit insurance Dr 4 5 2 8 Other Dr Government of Montenegro, Other Budget of Montenegro Beneficiaries and Regulatory Agencies 4 5 3 0 Payment cards and ATM operations Dr 4 5 3 1 Loans Dr 4 5 3 2 Off balance sheet dealings Dr 4 5 3 3 Sureties Dr 4 5 3 4 Payment system Dr 4 5 3 5 Investment banking Dr 4 5 3 6 Accountancy Dr 4 5 3 7 Deposit insurance Dr 4 5 3 8 Other Dr Local Self-Government Units 4 5 4 0 Payment cards and ATM operations Dr 4 5 4 1 Loans Dr 4 5 4 2 Off balance sheet dealings Dr 4 5 4 3 Sureties Dr

4 5 4 4 Payment system Dr
4 5 4 5 Investment banking Dr
4 5 4 6 Accountancy Dr
4 5 4 7 Deposit insurance Dr
4 5 4 8 Other Dr
Private Undertakings
4 5 5 0 Payment cards and ATM operations Dr 4 5 5 1 Loans Dr 4 5 5 2 Off balance sheet dealings Dr 4 5 5 3 Sureties Dr 4 5 5 4 Payment system Dr 4 5 Investment banking Dr 4 5 5 6 Accountancy Dr 4 5 5 7 Deposit insurance Dr 4 5 5 8 Other Dr Natural Persons 4 5 6 0 Payment cards and ATM operations Dr 4 5 6 1 Loans Dr 4 5 6 2 Off balance sheet dealings Dr 4 5 6 3 Sureties Dr 4 5 6 4 Payment system Dr 4 5 6 5 Investment banking Dr 4 5 6 6 Accountancy Dr 4 5 6 7 Deposit insurance Dr 4 5 6 8 Other Dr Entrepreneurs 4 5 7 0 Payment cards and ATM operations Dr 4 5 7 1 Loans Dr 4 5 7 2 Off balance sheet dealings Dr 4 5 7 3 Sureties Dr 4 5 7 4 Payment system Dr 4 5 7 5 Investment banking Dr 4 5 7 6 Accountancy Dr 4 5 7 7 Deposit insurance Dr 4 5 7 8 Other Dr State Undertakings 4 5 8 0 Payment cards and ATM operations Dr 4 5 8 1 Loans Dr 4 5 8 2 Off balance sheet dealings Dr 4 5 8 3 Sureties Dr 4 5 8 4 Payment system Dr 4 5 8 5 Investment banking Dr 4 5 8 6 Accountancy Dr 4 5 8 7 Deposit insurance Dr 4 5 8 8 Other Dr

Other
4 5 9 0 Payment cards and ATM operations Dr 4 5 9 1 Loans Dr 4 5 9 2 Off balance sheet dealings Dr 4 5 9 3 Sureties Dr 4 5 9 4 Payment system Dr 4 5 9 5 Investment banking Dr 4 5 9 6 Accountancy Dr 4 5 9 7 Deposit insurance Dr 4 5 9 8 Other Dr Net Gains (Losses) from Held for Trading Securities, Derivatives and Foreign Currencies 4 6 2 0 Net revenue from held for trading securities – stocks Cr/Dr 4 6 2 2 Net revenue from held for trading securities – not stocks Cr/Dr 4 6 2 4 Net gains (losses) from derivatives trading Cr/Dr 4 6 2 5 Net gains (losses) from FX trading (spot transactions) Cr/Dr 4 6 2 6 Net gains (losses) from change in fair value in hedge accounting Cr/Dr Net Gains (Losses) from Other Financial Instruments Held for Trading 4 6 2 7 Net gains (losses) from other financial instruments held for trading Cr/Dr Net gains (losses) from Securities arising from Derecognition at Fair Value through Other Comprehensive Income 4 7 3 0 from Government of Montenegro Cr/Dr 4 7 4 0 from local self-government units Cr/Dr 4 7 7 0 from other issuers, debt securities Cr/Dr 4 7 9 0 from other issuers, not stocks Cr/Dr Net gains (losses) from Other Financial Instruments arising from Derecognition at Fair Value through Other Comprehensive Income 4 7 8 0 Net gains (losses) from other financial instruments arising from derecognition at fair Value through other comprehensive income Cr/Dr Net Gains (Losses) from Financial Instruments Carried at Fair Value through Profit and Loss 4 8 1 0 Net gains (losses) from financial instruments carried at fair value through profit and loss Cr/Dr Net Gains (Losses) from Securities arising from Derecognition Measured at Amortised Cost 4 8 3 0 from Government of Montenegro Cr/Dr 4 8 4 0 from local self-government units Cr/Dr 4 8 7 0 from other issuers, not stocks Cr/Dr Net Gains (Losses)from Other Financial Instruments arising from Derecognition Measured at Amortised Cost 4 8 8 0 Net gains (losses) from other financial instruments arising from derecognition

measured at amortised cost Cr/Dr
Net Gains (Losses) from Other Equity Investments 4 8 9 4 Net gains (losses) from equity investments (significant influence) Cr/Dr 4 8 9 6 Net gains (losses) from equity investments (control) Cr/Dr 4 8 9 7 Net gains (losses) from joint ventures Cr/Dr Net Gains and Losses from Revaluation 4 9 0 1 FX revaluation gains Cr 4 9 1 1 FX revaluation losses Dr Net Gains (Losses) from Repurchase Operations 4 9 1 6 Net gains (losses) from repurchase operations Cr/Dr Net Gains (Losses) from Custody Operations 4 9 1 7 Net gains (losses) from custody operations Cr/Dr Income/Expense related to Securitisation and Servicing 4 9 2 5 Amortization expense on servicing rights Dr 4 9 2 6 Servicing for others – Income Cr 4 9 2 7 Servicing for others – Expense Dr Dividend Income 4 9 3 1 Held for trading securities Cr 4 9 3 2 Securities at fair value through other comprehensive income Cr 4 9 3 3 Securities carried at fair value through profit and loss, not held for trading Cr 4 9 3 4 Dividends from investment in subsidiaries, associates and joint ventures applying cost method Other 4 9 9 0 Other operating income Cr 4 9 9 1 Income from collected written off receivables Cr 4 9 9 2 Gains (losses) based on modification of financial instruments Dr/Cr 4 9 9 3 Gains (losses) based on reclassification of financial instruments Dr/Cr 4 9 9 5 Other non-operating income Dr 4 9 9 6 Expenses based on direct write-off of receivables TOTAL (from 4011 to 4998) Costs of Salaries and Fringe Benefits 5 0 0 1 Net salaries Dr 5 0 0 2 Net sick leave benefits Dr 5 0 0 3 Net annual leave benefits Dr 5 0 0 4 Other net employee benefits 5 0 0 5 Net transportation expense Dr 5 0 1 1 Net fees for maternity leave Dr 5 0 1 2 Contributions for pension and disability insurance to debit employee Dr

5 0 1 3 Contributions for health insurance to debit employee Dr 5 0 1 4 Contributions for unemployment insurance to debit employee Dr 5 0 1 5 Contributions for pension and disability insurance to debit employer Dr 5 0 1 6 Contributions for health insurance to debit employer Dr 5 0 1 7 Contributions for unemployment insurance to debit employer Dr 5 0 1 8 Contributions for Commercial Chambers of Montenegro to debit employer Dr 5 0 1 9 Contributions for solidarity to debit employer Dr 5 0 2 0 Contributions for Labour Fund to debit employer Dr 5 0 2 1 Contribution for professional rehabilitation of disabled persons to debit employer Dr 5 0 2 2 Surtax expense Dr 5 0 2 3 Tax expense Dr 5 0 2 7 Other payroll related costs Dr 5 0 2 8 Provision expenses for severance payments and jubilee rewards Dr/Cr 5 0 2 9 Provision expenses for unused annual leaves Dr/Cr Other Employee Expenses 5 0 4 1 Professional education Dr 5 0 4 2 Travel and entertainment Dr 5 0 4 3 Travel expenses and per diems Dr 5 0 4 4 Training Dr 5 0 4 5 Other employee expenses Dr Business Premise and Equipment Expenses 5 0 5 1 Rent Dr 5 0 5 2 Building repairs and maintenance Dr 5 0 5 3 Security (Physical) Dr 5 0 5 4 Electricity Dr 5 0 5 5 Heating Dr 5 0 5 6 Water Dr 5 0 5 7 Cleaning (Janitorial services) Dr 5 0 5 8 Computer and equipment maintenance Dr 5 0 5 9 Operating leases Dr 5 0 6 0 Business premise related taxes Dr 5 0 6 1 Property lease related taxes Dr 5 0 8 1 Motor vehicle expenses Dr 5 0 8 2 Insurance Dr Depreciation and Amortisation 5 1 0 2 Buildings Dr 5 1 0 3 Investment properties Dr 5 1 0 4 Plant and equipment Dr 5 1 0 5 Office equipment Dr 5 1 0 6 Vehicles Dr 5 1 0 7 Hardware Dr 5 1 0 8 Computer programmes (software) Dr 5 1 0 9 Small inventory Dr

5 1 2 1 Right-of-use assets Dr
5 1 2 9 Other tangible assets Dr
5 1 3 2 Patents/Trademarks Dr
5 1 3 3 Concessions Dr
5 1 3 9 Other intangible assets Dr
Professional Fees and Expenses
5 2 0 1 Audit Dr
5 2 0 2 Data processing Dr
5 2 0 3 Court expenses Dr
5 2 0 4 Other professional fees Dr
5 2 0 5 Customs and freight forwarding expenses Dr 5 2 0 6 Lawyer services expenses Dr 5 2 0 7 Securities related expenses Dr 5 2 0 8 Scholarship expenses Dr 5 2 0 9 Intellectual services expenses Dr 5 2 1 0 Accommodation expenses Dr 5 2 1 1 Consultancy services Dr 5 2 1 2 Cash transport expenses Dr Other 5 3 0 1 Telephone Dr 5 3 0 2 Telecommunication networks expenses Dr 5 3 0 3 Postage Dr 5 3 0 4 Stationery Dr 5 3 0 5 Subscriptions and donations Dr 5 3 0 6 Utility services Dr 5 3 0 7 Cleaning and laundry Dr 5 3 0 8 Entertainment expenses Dr 5 3 0 9 Fuel expenses Dr 5 3 1 0 Consumables Dr 5 3 2 1 Publications Dr 5 3 2 2 Advertising and marketing Dr 5 3 2 3 Printing and photocopying Dr 5 3 2 4 Value added taxes Dr 5 3 2 5 Other tax expenses Dr 5 3 2 6 Duties (property, tourist organisations, miscellaneous duties) Dr 5 3 9 9 Miscellaneous expenses Dr 5 4 0 1 Impairment of assets Dr 5 5 0 1 Current tax Dr 5 5 1 1 Deferred tax expense in the current period Dr/Cr 5 5 2 2 Gains on disposal of property, plant and equipment Cr 5 5 2 3 Losses on disposal and write-off of property, plant and equipment Dr 5 5 2 4 Income and expenses based on reducing investment properties to fair value Dr/Cr 5 5 2 5 Net gains (losses) from derecognition of investment properties Dr/Cr 5 5 2 6 Net gains (losses) from the sale of assets acquired based on the collection of receivables Dr/Cr

Allowances for Impairment and Provision Expenses 5 6 1 0 Allowances for impairment for loans and other receivables Dr/Cr 5 6 1 1 Allowances for impairment of deposits with credit institutions, other depository institutions, other financial institutions and undertakings engaged in financial activity Dr/Cr 5 6 1 2 Allowances for impairment of factoring and forfaiting Dr/Cr 5 6 1 4 Allowances for impairment of securities at fair value through other comprehensive income Dr/Cr 5 6 1 5 Allowances for impairment of securities measured at amortised cost Dr/Cr 5 6 1 6 Allowances for impairment of credit institution receivables on acceptances, guarantees and bills of exchange outstanding Dr/Cr 5 6 1 7 Allowances for impairment for other funds Dr/Cr 5 6 1 8 Allowances for impairment for interest receivables Dr/Cr 5 6 1 9 Provision expenses for off balance sheet obligations Dr/Cr 5 6 2 0 Other allowances for impairment Dr/Cr 5 6 2 1 Allowances for impairment of equity investments in associates (significant influence) Dr/Cr 5 6 2 2 Allowances for impairment of equity investments in subsidiaries Dr/Cr 5 6 2 4 Allowances for impairment for servicing rights Dr/Cr 5 6 2 7 Allowances for impairment for other assets Dr/Cr 5 6 2 8 Allowances for impairment for receivables from custody operations Dr/Cr 5 6 2 9 Allowances for impairment for accruals and prepayments Dr/Cr 5 6 3 0 Provision expenses for lawsuits Dr/Cr 5 6 3 1 Provision expenses for other Dr/Cr 5 6 3 2 Allowances for impairment of acquired assets Dr/Cr Non-Operating and Extraordinary Expenses 5 6 4 1 Non-operating expenses Dr 5 6 5 1 Prior year adjustments Dr 5 6 6 0 Extraordinary income Cr 5 6 6 1 Extraordinary expenses Dr TOTAL (from 5001 to 5661) OFF BALANCE SHEET ITEMS Guarantees Given 9 0 1 0 Credit institutions Cr 9 0 2 0 Other depository institutions, other financial institutions and undertakings engaged in financial activity Cr 9 0 3 0 Government of Montenegro, other Budget of Montenegro beneficiaries and regulatory agencies Cr 9 0 4 0 Local self-government units Cr 9 0 5 0 Undertakings Cr 9 0 6 0 Natural persons Cr 9 0 7 0 Entrepreneurs Cr

9 0 8 0 Other Cr
Guarantees Received
9 1 1 0 Credit institutions Cr
9 1 2 0 Other depository institutions, other financial institutions and undertakings engaged in financial activity Cr 9 1 3 0 Government of Montenegro, other Budget of Montenegro beneficiaries and regulatory agencies Cr 9 1 4 0 Local self-government units Cr 9 1 5 0 Undertakings Cr 9 1 6 0 Natural persons Cr 9 1 7 0 Entrepreneurs Cr 9 1 8 0 Other Cr Letters of Credit 9 2 1 0 Confirmed Cr 9 2 2 0 Uncovered Cr Bill of Exchange 9 3 1 0 Issued Cr Cheques 9 3 2 0 Received Cr Credit Obligations Given 9 4 1 0 Credit institutions Cr 9 4 2 0 Others Cr 9 4 2 1 Revocable credit obligations Cr Credit Obligations Received 9 5 1 0 Credit institutions Dr 9 5 2 0 Other Dr 9 5 3 0 Custody operations Dr Accrued Interest 9 6 2 0 Accrued Interest Dr Security Interest (Collateral) Received 9 7 1 0 Property Dr 9 7 2 0 Securities Dr 9 7 2 1 Pledge on movable properties Dr 9 7 2 2 Bills of exchange Dr 9 7 2 3 Insurance policies Dr 9 7 2 4 Deposits Dr 9 7 2 5 Guarantees of the Government of Montenegro Dr 9 7 2 6 Guarantees of other central Governments and international institutions Dr 9 7 2 7 Guarantees of parent credit institutions Dr 9 7 3 0 Other Dr 9 7 4 0 Given Dr

Contractual Value of Derivative Financial Instruments Held for Trading (break down of asset accounts) 9 7 5 1 Contractual value of derivative financial instruments related to interest rates Dr 9 7 5 2 Contractual value of derivative financial instruments related to foreign exchange rate Dr 9 7 5 3 Contractual value of derivative financial instruments related to prices in equity securities Dr 9 7 5 4 Contractual value of derivative financial instruments that meet the definition of derivatives pursuant to IAS 39 Dr Contractual Value of Derivative Financial Instruments used as Hedging Instruments (break down of asset accounts) 9 7 5 5 Contractual value of derivative financial instruments related to interest rates Dr 9 7 5 6 Contractual value of derivative financial instruments related to foreign exchange rate Dr 9 7 5 7 Contractual value of derivative financial instruments related to prices in equity securities Dr 9 7 5 8 Contractual value of derivative financial instruments that meet the definition of derivatives pursuant to IAS 39 Dr 9 7 5 9 Contractual value of derivative financial instruments (counter-item to the breakdown of liabilities accounts) Dr Contractual Value of Derivative Financial Instruments Held for Trading (break down of liabilities accounts) 9 7 6 0 Contractual value of derivative financial instruments related to interest rates Cr 9 7 6 1 Contractual value of derivative financial instruments related to foreign exchange rate Cr 9 7 6 2 Contractual value of derivative financial instruments related to prices in equity securities Cr 9 7 6 3 Contractual value of derivative financial instruments that meet the definition of derivatives pursuant to IAS 39 Cr Contractual Value of Derivative Financial Instruments used as Hedging Instruments (break down of liabilities accounts) 9 7 6 4 Contractual value of derivative financial instruments related to interest rates Cr 9 7 6 5 Contractual value of derivative financial instruments related to foreign exchange rate Cr 9 7 6 6 Contractual value of derivative financial instruments related to prices in equity securities Cr 9 7 6 7 Contractual value of derivative financial instruments that meet the definition of derivatives pursuant to IAS 39 Cr 9 7 6 8 Contractual value of derivative financial instruments (counter-item to the breakdown of liabilities accounts) Cr 9 7 6 9 Other asset off balance sheet items in EUR Dr 9 7 7 0 Other asset off balance sheet items in other foreign currencies Dr Assets Held in Trust 9 8 1 0 Securities and valuables of clients for safekeeping Cr

9 8 2 0 Other assets held for safekeeping Cr 9 8 3 0 Managed securities Cr 9 8 4 0 Other managed assets - including agency loans Cr 9 9 0 0 Memorandum Account Dr 9 9 1 0 Memorandum Account Cr 9 9 2 0 Memorandum Account Dr 9 9 3 0 Memorandum Account Dr 9 9 4 0 Memorandum Account Dr 9 9 5 0 Memorandum Account Cr 9 9 6 0 Memorandum Account Cr 9 9 7 0 Memorandum Account Cr 9 9 8 0 Memorandum Account Dr 9 0 Other liabilities off balance sheet items in EUR Cr 9 1 Other liabilities off balance sheet items in other foreign currencies Cr TOTAL OFF BALANCE SHEET (except accounts 9759, 9768 and memorandum accounts from 9900 to 9980)