The average weighted effective interest rate on total approved loans in April decreased by 0.04 percentage points on a monthly basis, reaching 6.37%, according to data from the Central Bank of Montenegro (CBCG).
The CBCG Bulletin states that the average weighted nominal interest rate on total approved loans also dropped by 0.04 percentage points, standing at 5.84%.
Interest rates on newly approved loans in April increased, with the effective rate rising by 0.13 percentage points to 6.11%, and the nominal rate increasing by 0.12 percentage points to 5.63%.
For microcredit financial institutions (MFIs), interest rates on total approved loans fell in April: the effective rate decreased by 0.11 percentage points to 20.87%, while the nominal rate declined by 0.09 percentage points to 18.75%.
However, MFI interest rates on newly approved loans rose significantly in April, with the effective rate climbing by 1.9 percentage points to 20.61%, and the nominal rate by 1.5 percentage points to 18.48%.
The average weighted effective interest rate on deposits remained unchanged from March, standing at 0.27%.
The difference between lending (active) and deposit (passive) interest rates in April was 6.1 percentage points, showing a slight decrease compared to the previous month.
