In February, the weighted average effective interest rate on approved loans saw a slight uptick of 0.05 percentage points compared to January, reaching 6.65 percent, as per data released by the Central Bank of Montenegro (CBCG).
According to the CBCG Bulletin, the weighted average nominal interest rate also experienced a modest increase of 0.04 percentage points, reaching 6.15 percent on a monthly basis.
For newly approved loans in February, the effective interest rate saw a more significant rise, climbing by 0.63 percentage points to 7.5 percent, while the nominal rate increased by 0.54 percentage points to 6.74 percent.
In contrast, microcredit financial institutions (MFIs) saw a decrease in their effective interest rates on total approved loans in February, with a drop of 0.23 percentage points to 21.87 percent, while the nominal rate decreased by 0.18 percentage points to 19.41 percent.
On a monthly basis, MFIs also witnessed a decline in interest rates for newly approved loans. The effective rate decreased by 0.9 percentage points to 20.46 percent, and the nominal rate dropped by 0.94 percentage points to 18.2 percent.
Meanwhile, the weighted average effective interest rate on deposits remained steady at 0.25 percent throughout February.
