The average weighted effective interest rate on total approved loans, which includes all their costs, decreased by 0.02 percentage points in February, standing at 6.45%, according to data from the Central Bank of Montenegro (CBCG).
“The average weighted nominal interest rate on total approved loans decreased by 0.03 percentage points on a monthly basis, reaching 5.92%,” the CBCG Bulletin reports.
Interest rates on newly approved loans increased in February, with the effective rate rising by 0.57 percentage points to 6.51%, and the nominal rate increasing by 0.4 percentage points to 5.94%.
Interest rates from microcredit financial institutions (MFI) on total approved loans decreased in February, with the effective rate falling by 0.27 percentage points to 21.35%, and the nominal rate dropping by 0.23 percentage points to 19.13%.
MFI interest rates on newly approved loans also decreased in February, with the effective rate dropping by 2.11 percentage points to 19.77%, and the nominal rate falling by 1.72 percentage points to 17.73%.
The average weighted effective interest rate on deposits increased by 0.01 percentage points in February compared to January, reaching 0.27%.
The difference between active and passive interest rates in February was 6.18 percentage points, lower than in January.
