Estimated expenses that should be taken into the account in process of formation of a commercial bank in Montenegro are given below.

Expenses are projected on the ground of experience of participants in process of setting up of a commercial bank in Montenegro.

Certain equipment can be either purchased or leased; in that regard, strategy of the bank's founder will affect expenses arising from that position. 

Therefore, the following figures must not be taken into the account in a way to be binding or definitive ones.

Position Expense (VAT included)
Legal services (all fees included) €70-150k (front-end)
Escrow account, opened by a Montenegrin commercial bank (founding capital = €6 million) €20-30k (front-end)
System software (operating system based on Microsoft, antivirus, security licenses etc.) €40-80k (purchase)
Applicative software (core banking services application) €250-800k (purchase)
Hardware (servers, servers room equipment, disaster recovery site equipment, work stations, security & communication equipment, intranet equipment etc.) €250-500k (purchase)
Internet & intranet infrastructure  €5-10k (purchase)
SWIFT (international payment gateway) infrastructure €25-40k (purchase)
Furniture & fire-proof lockers €30-50k (purchase)
Bank's brending (registration of a trademark) €5-10k (purchase)
Bank's website, integration with the document management system €10-15k (purchase)
System software (maintenance) €3-5k/monthly
Applicative software (maintenance) €5-10k/monthly
Hardware (maintenance) €3-6k/monthly
SWIFT interface (maintenance) €5-10k/monthly
Workforce (gross salaries, all taxes included) €40-60k/monthly
Security services (protection of the bank's assets and workforce) €2-5k/monthly
Corporate governance (permanent boards membership) €3-5k/monthly
External audit ("Big Four") €60-90k/per annum
Inland payment operations expense (indicative, service provided by the CBoM) €2-5k/monthly
International payment operations expense (indicative, service provided by corresponding banks) €5-15k/monthly
The CBoM annual controls €50-60k/per annum
Service provided by the Protection of Deposit Fund (indicative) €3-5k/monthly
Business premises renting (500 m2, VAT included) €10-15k/monthly
Telecommunications & internet services €2-4k/monthly
Mobile phones, ground phone lines €1-2k/monthly
Insurance policies (bank's assets & workforce) €1-2k/per annum
Electric energy, water supply, municipality fees, maintenance of business premises and building, cleaning €2-3k/monthly
Accommodation of foreign managers (renting of apartment, per one manager) €500-800/monthly
Office supplies  €300-500/monthly

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