ABOUT US

Get to know us

Alter Modus is a leading micro-credit financial institution in Montenegro established in 1997 with clear mission to support development of micro and small businesses. For nearly three decades of operating, we have built reputation of a company that sets and improves standards of micro-financing on the domestic market.

Our clients are entrepreneurs, micro and small enterprises, natural persons who generate or plan to generate income from business activity, as well as employed persons and pensioners that need simple financial solutions.

Development of Alter Modus is based on partnership relation with employees and clients, with vision to be the first choice of micro and small businesses for financing their needs. Due to long-standing experience, expertise and presence in local communities, we are recognized as stable and responsible partner.

The head office is in Podgorica, while the business activity is performed through network of 17 branch offices located in South, Centre and North. We provide services in quick, simple and flexible way, which is one of key reasons because of which we hold approximately 70% of market share in micro-credit sector.

General data

MFI Alter Modus LLC Podgorica

Vučedolska 15, 81 000 Podgorica

[email protected]
+382 20 655 280
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Alter Modus over the time

Move the bottom bar to the left to read the complete history.

Alter Modus was established as a non-governmental organization (association of citizens).

1999

Micro-crediting became the sole business activity of NGO Alter Modus.

2003

Pursuant to the new Law on non-governmental organizations (Official Gazette of Montenegro No. 11/07) and to the Law on banks (Official Gazette of Montenegro No. 17/08), NGOs could no longer perform micro-crediting activity in Montenegro.

2009

Alter Modus LLC established governing bodies adhering to the best international practices and recommendations for corporate governance.

2023
1997

NGO Alter Modus started off with implementation of micro-credit program, supported by United Nation High Commissioner for Refugees (UNHCR) and Danish Refugee Council (DRC).

2002

Central Bank of Montenegro adopted Decision on minimum standards for risk management in MFI and officially became regulatory authority that controls legal entities preforming micro-crediting activities. NGO Alter Modus got license for work by Central Bank of Montenegro May 19, 2003.

2007

NGO Alter Modus established a company MFI Alter Modus LLC to which it transferred all the business activities, while its equity has invested in paid up capital of the Company.

2015

Patellar Fund from the Netherlands became Alter Modus' co-owner with 9.9% of share in equity. Majority ownership (90.1%) belongs to NGO Alter Modus.

Vision

Vision of Alter Modus is to be the first choice of micro and small businesses in Montenegro for financing their needs.

Mission

Mission of Alter Modus is providing financial support that helps Montenegrin micro and small enterprises to prosper sustainably.

Values

People first

People are our priority. We listen with attention, adapt with understanding, and always give our best in relationships with our clients and our team.

Trust

We build trust through open communication and genuine respect for every person and community we serve.

Entrepreneurship

We are one step ahead of change and turn challenges into sustainable solutions leveraging our collective experience to continually improve products, processes and services.

Organization

Majority owner of Alter Modus is NGO Alter Modus from Montenegro with share of 90.1%, while co-owner is Patellar Fund from the Netherlands with equity share of 9.9%.

Governing bodies in are General Assembly, the Board of Directors and Chief Executive Officer.

STATUT

Board of Directors

Luka Đurović, Chair of the Board of Directors

Andrija Lompar, Member of the Board of Directors

Pieter Kooi, Member of the Board of Directors

Mark Willem Semeijns De Vries Van Doesburgh, Member of the Board of Directors

Dželila Huremović, Member of the Board of Directors

AUDIT COMMITTEE

Miloš Đurišić, Chair of the Audit Committee

Dželila Huremović, Member of the Audit Committee

Andrija Lompar, Member of the Audit Committee

CHIEF EXECUTIVE OFFICER AND CHIEF OFFICERS

Ana Kentera

Chief Executive Officer

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Ljiljana Stojović

Chief Business Development Officer

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Željka Obradović

Chief Human Resources and Communications Officer

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Srđan Đurović

Chief Operations Officer

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Vladimir Petrić

Chief Administrative Officer

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Milorad Bojović

Chief Risks Officer

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Branko Tadić

Chief Finance Officer

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ORGANIZATIONAL STRUCTURE

Organizational structure of Alter Modus consists of independent functions and sectors that include key fields of business: operations, risks, support, business development, human resources and communications and finance.

Each sector manages its processes through appropriate department and units covering wide range of activities from sale network, marketing, management of credit and non-credit risks, project management, development of products and IT development, up to development of staff and communication, legal and compliance affairs, IT support, property management, accounting and controlling.

ORGANOGRAM

Creditor and Partners

Triple Jump is a Dutch representative of major European funds financing projects in developing countries on all continents. Triple Jump manages funds with total value of EUR 775,000,000, placed in over 150 financial institutions worldwide. One of them is Alter Modus, while NOVIB (one of the funds) was our first creditor in 2001.

EBRD – the European Bank for Reconstruction and Development (EBRD) set a precedent in its operations in 2004 by granting for the first time a loan of EUR 1 million to a non-governmental organisation dealing in micro-crediting. Since then, Alter Modus and EBRD have advanced their cooperation through long-term credit arrangements.

EFSE – European Fund for Southeast Europe (EFSE), active in 16 countries with fund over EUR 900,000,000, since its establishing in 2005, it has recognized Alter Modus as partner institution with which it has ongoing cooperation through credit arrangements. Apart from that, EFSE contributes to institutional development of Alter Modus through technical assistance programmes, not only in development of functions significant for business, but also through programmes of trainings, contributing to development of human resources.

ResponsAbility – is a representative in field of investments of private and public funds seated in Switzerland, which is focused in investments in liabilities and equity of legal entities in developing countries which implements inclusive business models. ResponsAbility manages funds worth more than USD 3 billion while the funds are placed in more than 90 countries worldwide. Cooperation with Alter Modus started in 2015 and is developed through new projects.

BiB – Bank im Bistum Esen is a German bank with total assets of almost EUR 5 billion. Through specialized programmes, it strongly supports development of micro-crediting in more than 60 countries worldwide.  BiB and Alter Modus have been cooperating intensively since 2015.

GGF – Through credit arrangement with Green for Growth Fund in 2016, Alter Modus started financing energy efficiency projects. Introducing this novelty in Alter Modus’ offer significantly contributed to improvement of internal knowledge as well as informing the general public and clients of implementation of energy efficiency measures. This way, improvement of living conditions and energy saving was additionally encouraged.

Frankfurt School Financial Services (FSFS)

is a renowned investment company supervised by German Financial Supervisory Authority, specialized in investing in developing markets. As a representative of European funds, including GLS Alternative Investments – Mikrofinanzfonds, FSFS is focused on investments which reduce poverty, promote economic growths and contribute to environmental protection. Collaboration with Alter Modus began in 2016 through the first credit line.

Council of Europe Development Bank (CEB) is a multilateral development institution with clearly defined social mandate. Its activities cover key sectors of public importance – health and social protection, education and professional training, administrative and judicial infrastructure, environmental protection, as well as financing micro, small and medium-sized enterprises (SMEs) and microfinance. The cooperation between CEB and Alter Modus was established in 2025 through credit arrangement dedicated to improvement of financing micro, small and medium enterprises which additionally strengthens support to sustainable development in Montenegro.

Crnogorska komercijalna banka (CKB) is one of the first Alter Modus’ local partners. Focus of this collaboration is on credit lines and payment transactions services which supports business actovootes nad needs of Alter Modus’ clients.

NLB Banka, as a part of NLB group, is an important Alter Modus’ partner with which the cooperation has lasted since establishing. Collaboration is focused on providing wide range of services and support, which contributes to development of the company and satisfaction of Alter Modus’ clients.

Hipotekarna banka is a long-standing Alter Modus’ partner with wide range of services such as guarantees, revolving lines and card operations. Also, it ensures on-going support to clients in terms of payment transactions, which makes the bank a significant partner in accomplishing Alter Modus’ goals.

Financial reports
Puni naziv
MFI Alter Modus DOO Podgorica
Adresa sjedišta
Ul. Vučedolska br. 15, 81000 Podgorica
Adresa za prijem službene pošte
Ul. Vučedolska br. 15, 81000 Podgorica
Telefon/fax
+382 20 655 280
Email
[email protected]
Broj računa
NLB 530-22806-77; CKB 510-77103-76; HB 520-19395-90
Poreski identifikacioni broj (PIB)
02741792
Broj registarskog upisa u Centralni registar privrednih subjekata
5-0510844

Ana Kentera vodi Alter Modus od 2015. godine. Kompaniji se priključila 2000. kao menadžerka finansija, a potom je obavljala funkciju direktorice finansija i pravnih poslova. Sa bogatim iskustvom iz mikrofinansiranja i obrazovanjem iz prava i finansijskog menadžmenta, dala je značajan doprinos razvoju organizacije, upravljanju procesima i unapređenju poslovnog planiranja. Pohađala je brojne međunarodne programe iz oblasti mikrokreditiranja, a posvećenost klijentima, kvalitet rada i etičnost smatra temeljem dugoročne održivosti.

Ljiljana Stojović, diplomirana ekonomistkinja, u Alter Modusu je od 1999. godine, gdje je karijeru započela u Kreditnim operacijama. Radila je kao kreditna savjetnica, regionalna menadžerka i direktorica Kreditnih operacija. Ključno iskustvo stekla je kroz rad sa klijentima i praćenje razvoja preduzetničkih projekata. Učestvovala je u razvoju marketinga, ljudskih resursa i funkcije upravljanja rizicima i kvalitetom. Kao direktorica Sektora za razvoj poslovanja rukovodi projektima, razvojem proizvoda, prodajnih kanala i IT rješenja.

Željka Obradović, diplomirana filološkinja i primijenjena psihološkinja, karijeru je gradila kroz konsultantske i menadžerske pozicije u međunarodnoj kompaniji za razvoj tržišta rada. U Alter Modusu je od 2015. godine, gdje značajno doprinosi upravljanju ljudskim resursima i komunikacijama. Fokusirana je na strateško vođenje HR procesa, razvoj internih i eksternih komunikacija, krizno komuniciranje i društveno odgovorne inicijative. Kontinuirano se usavršava u oblastima organizacione psihologije, psihoterapije, koučinga i komunikacija.

Srđan Đurović, diplomirani ekonomista, pridružio se Alter Modusu 2003. godine kao kreditni savjetnik, nakon čega je obavljao funkciju regionalnog menadžera za centralnu regiju i menadžera Kreditnih operacija. Od 2022. godine rukovodi Sektorom operacija, koji obuhvata upravljanje kreditnim procesima, marketingom i podrškom prodaji. Usavršavao se kroz brojne programe iz mikrofinansiranja, prodajnih strategija, planiranja i liderstva. Posebno je posvećen razvoju timova, unapređenju procesa i osiguravanju stabilnog poslovanja u dinamičnim uslovima.

Vladimir Petrić, diplomirani pravnik, u Alter Modusu je gotovo dvije decenije. Karijeru je započeo kao kreditni službenik, a potom se specijalizovao za pravne i imovinske poslove. Učestvovao je u uspostavljanju sistema zaštite ličnih podataka, upravljanju pravnim rizicima i usklađivanju poslovanja sa nacionalnim pravnim standardima i EU direktivama. Kao direktor Sektora podrške odgovoran je za compliance, zaštitu interesa kompanije, upravljanje imovinom te IT sigurnost i stabilnost. Vjeruje u kulturu saradnje, povjerenja i zajedničkog uspjeha.

Milorad Bojović, diplomirani ekonomista, u Alter Modusu je od 2016. godine. Razvijao se kroz pozicije kreditnog savjetnika, rizik analitičara, menadžera Službe za rizik i kvalitet, a od 2022. godine rukovodi Sektorom rizika. Sertifikovani je ekspert za upravljanje rizicima i učestvovao je u međunarodnim treninzima u oblasti mikrokreditiranja. Doprinosi unapređenju procedura, procesa i sistema za upravljanje kreditnim i nekreditnim rizicima, uz snažan fokus na strateško i proaktivno upravljanje.

Branko Tadić, magistar ekonomije, dio je Alter Modusa od 2007. godine. Prošao je različite pozicije u finansijama – od finansijskog kontrolora i analitičara, preko specijaliste za analizu i izvještavanje, do rukovođenja računovodstvom. Od 2022. godine je direktor Sektora finansija. Usavršavao se kroz brojne obuke iz finansija, menadžmenta, liderstva i komunikacija. Vjeruje da je kontinuirani lični razvoj ključ profesionalnog uspjeha.

Ana Kentera has been running Alter modus since 2015. She joined the company in 2000, as Finance Manager, and afterwards she served as Director of Finance and Legal Affairs. With abundant experience in micro-finance and education in law and financial management, she has significantly contributed to the development of organization, management of processes and improvement of business planning. She has attended numerous international programmes in field of micro-crediting, while she believes that commitment to clients, quality in work and ethics are foundations of long-term sustainability.

Ljiljana Stojović, with degree in economics, has been in Alter Modus since 1999, starting her career in Credit Operations. She worked as loa officer, regional manager and Director of Credit Operations. She earned the key experience through work with clients and monitoring the development of entrepreneurial projects. She participated in development of marketing, human resources and function of risk and quality management. As the Chief Business Development Officer she manages projects, development of products, sale channels and IT solutions.

Željka Obradović, with degree in philology and applied psychology, has built her career through consultancy and managerial positions in international company for development of labour market. She has been in Alter Modus since 2015, where she significantly contributes to human resources management and communications. She is focused on strategic management of HR processes, development of internal and external communications and crisis communication and socially responsible initiatives. She is continually perfecting in fields of psychology, psychotherapy, coaching and communications.

Srđan Đurović, graduated economist, joined Alter Modus in 2003 as loan officer, then he was regional manager for the central region and manager of Credit Operations. Since 2022, he has been head of Operations Sector, which encompasses managing credit processes, marketing and support to sale. He has been perfecting through various programmes in micro-finance, sale strategies, planning and leadership. He is specifically devoted to team development, improvement of processes and ensuring stable operations in dynamic circumstances.

Vladimir Petrić, with law degree, has been in Alter Modus nearly two decades. He started his career as a loan officer, then he specialized in legal and property related affairs. He has participated in establishing the system of personal data protection, management of legal risks and business compliance with national legal standards and EU directives. As the Chief Administrative Officer, he is responsible for compliance, protection of company’s interests, management of property and IT security and stability. He believes in culture of cooperation, trust and common success.

Milorad Bojović, graduated economist, has been in Alter Modus since 2016. He has been advancing through positions of loan officer, risk analyst, manager of Risk and Quality Department, and since 2022, he has been managing the Risks Sector. He is a certified expert for risk management and has attended international trainings in field of micro-crediting. He contributes to improvement of procedures, processes and systems for managing credit and non-credit risks, with strong focus on strategic and proactive management.

Branko Tadić, master of economics, has been with Alter Modus since 2007. He covered various positions in finance – from financial controller and analyst, through analysis and reporting specialist to managing the Accounting Department. He has been the Chief Finance Officer since 2022. He has been advancing through various trainings in finance, management, leadership and communication. He believes that continuous personal development is the key to professional success.