The housing security project was initiated by the business sector – 19 IT companies that provide full support for their 115 employees and their families in addressing an important life issue.
In this way, ICT Cortex, as members of the cluster, as well as project partners, contribute to creating an environment that will reduce the departure of IT professionals from Montenegro and enable them to have a better and more secure future in our country.
Our intention to solve the housing issue for progressive young people from the IT community has also been supported by NLB Bank. Read on to find out why they have supported the project, its significance for them, and the benefits that employees will have.
Collaboration between Cortex and NLB Bank
NLB Bank has already collaborated with certain member companies of ICT Cortex, who proposed the bank’s involvement in this project. In January 2022, after presenting the idea and the basic intention (retaining IT professionals in Montenegro), NLB Bank decided to support the project, which was still in the conceptual phase at that time.
As a responsible business entity aware of the importance of this project in a broader economic context, the bank offered extremely favorable conditions. These conditions include a fixed interest rate of 4%, no loan processing fee for a period of up to 300 months, with 10% realization upon loan approval and 90% upon mortgage registration.
In this way, NLB Bank has enabled significant savings and benefits for employees in IT companies within the cluster and contributed to creating a better future for all members of society.
A Step Closer to the Community We Desire
An important part of NLB Bank’s mission is to create a better life and a better future for the entire region. They firmly believe that home is where people are, and they want to contribute to reducing the outflow of IT professionals from Montenegro and demonstrate their social responsibility by providing favorable conditions that will enable young people to stay in the country and build their homes.
Through their previous operations, the bank has been focused on the needs of current generations and creating better opportunities for the future. Therefore, they perceive participation in this project as a step closer to the community they themselves want to create.
As a member of the NLB Group, NLB Bank in Montenegro is aware of its role that goes beyond the scope of the financial sector. In their relationships with employees, clients, and all stakeholders, they strive to adhere to the principles of socially responsible business practices. They believe that integrating sustainability into their operations leads to the bank’s long-term reputation in financial, ecological, social, and ethical aspects and actively contribute to the alignment of the economic and social systems in the areas of sustainable business practices, financing, and corporate social responsibility.
Impact of the Residential Security Project on the IT Community
Considering the challenges that young people face when starting employment and securing conditions for independent living, a home, and a family, this project will greatly influence the decisions of young individuals to take such steps. The bank believes that through this project, young people gain an additional reason to stay in their country. They consider digitization to be the path to sustainability that we all strive for, and the knowledge and skills of IT professionals will be crucial in the coming years to work on the digitization process and achieve desired results.
The bank has previously participated in similar projects, demonstrating its responsible approach and seeking the most favorable solutions for addressing housing issues for employees in various public administration sectors. They offer precisely the most favorable conditions, as well as knowledge, experience, and advice that will assist young professionals in their journey of building their own future and contributing to the future of the entire community.
NLB Bank will continue to carefully listen to market needs in the future, and any project that incorporates sustainability and helps create new values for the benefit of society as a whole will be at the center of their attention.
Other Socially Responsible Projects
The Residential Security Project is not the only socially responsible project supported by NLB Bank. The bank carries out its philanthropic activities through donations primarily granted to socially significant organizations (educational, healthcare, public institutions for individuals with special needs, etc.) as well as organizations dedicated to community assistance or directly engaged in humanitarian work.
One project they are particularly proud of is the Assistance Framework project, in which they supported and rewarded innovative ideas that go beyond boundaries and best address sustainability challenges in the region.
Success Through Synergy
Despite the challenges we encountered, we were aware that this was a significant project that would not have come to fruition without synchronized, active, and dedicated work from all partners involved. In the market conditions prevailing since the middle of last year, and which continue to this day, the Bank has maintained exceptionally favorable conditions for financing employees in cluster member companies.
In addition to a special financing offer, NLB Bank provided logistics, support, and assistance throughout the project and the challenges faced by the main project team.
