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Tuesday, May 28, 2024
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Insight into Montenegro’s January loan interest rates

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In January, the average weighted effective interest rate for all approved loans saw a slight uptick of 0.01 percentage points compared to December of the preceding year, reaching 6.6 percent, as per data released by the Central Bank of Montenegro (CBCG).

According to the CBCG Bulletin, the average weighted nominal interest rate remained steady at 6.11 percent on a monthly basis.

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Specifically, the effective interest rate on newly sanctioned loans in January experienced an increase of 0.36 percentage points, reaching 6.87 percent, while the nominal rate rose by 0.11 percentage points to 6.2 percent.

The effective interest rate for microcredit financial institutions (MFIs) on total approved loans exhibited a decrease of 0.09 percentage points to 22.1 percent, with the nominal rate declining by 0.06 percentage points to 19.59 percent.

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Moreover, MFIs’ interest rates on newly approved loans increased during the month, with the effective rate rising by 0.29 percentage points to 21.36 percent and the nominal rate climbing by 0.34 percentage points to 19.14 percent.

In terms of deposits, the average weighted effective interest rate in January saw a slight rise of 0.04 percentage points on a monthly basis, reaching 0.25 percent.

Lastly, the gap between active and passive interest rates in January decreased to 6.35 percentage points compared to December of the previous year.

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