The average weighted effective interest rate on total approved loans, which includes all associated costs, decreased by 0.03 percentage points in January, amounting to 6.47%, according to data from the Central Bank of Montenegro (CBCG).
“The average weighted nominal interest rate on total approved loans was lower by 0.04 percentage points on a monthly basis, standing at 5.95%,” the CBCG Bulletin states.
Interest rates on newly approved loans in January increased, with the effective rate rising by 0.39 percentage points to 5.94%, and the nominal rate increasing by 0.37 percentage points to 5.54%.
Interest rates on loans from microcredit financial institutions (MFIs) for total approved loans decreased in January, with the effective rate falling by 0.04 percentage points to 21.62%, and the nominal rate decreasing by 0.04 percentage points to 19.36%.
The effective interest rate on newly approved loans from MFIs increased by 0.15 percentage points to 21.88%, while the nominal rate decreased by 0.05 percentage points to 19.45%.
The average weighted effective interest rate on deposits in January was 0.01 percentage points higher compared to December, standing at 0.26%.
The difference between active and passive interest rates in January was 6.21 percentage points, which was lower compared to December.
