Hipotekarna Banka A.D. Podgorica (Hipotekarna) is a Montenegro-based universal bank with a 15% domestic market share, and S&P Global Ratings regards it as a strategically important subsidiary of AikGroup (CY) Ltd. We assess the bank as having a solid franchise, with a proven track record of sound profitability and asset quality, alongside adequate capital, funding, and liquidity buffers, although its domestic focus means that it is constrained by sovereign's creditworthiness. We assigned our ‘B+/B’ long- and short-term issuer credit ratings to Hipotekarna. The positive outlook on Hipotekarna mirrors that on our long-term sovereign credit rating on Montenegro. On Oct. 28, 2026, S&P Global Ratings assigned its ‘B+/B’ long- and short-term issuer credit ratings to Hipotekarna Banka A.D. Podgorica (Hipotekarna). The
