The average weighted effective interest rate on total approved loans, which includes all associated costs, decreased by 0.05 percentage points on a monthly basis in December, standing at 6.5%, according to data from the Central Bank of Montenegro (CBCG).
“The average weighted nominal interest rate on total approved loans decreased by 0.05 percentage points on a monthly basis, reaching 5.99%,” the CBCG Bulletin reports.
Interest rates on newly approved loans in December decreased, with the effective rate falling by 0.43 percentage points to 5.55%, and the nominal rate by 0.34 percentage points to 5.17%.
Interest rates on total approved loans from microcredit financial institutions (MFIs) in December also decreased, with the effective rate dropping by 0.04 percentage points to 21.66%, and the nominal rate falling by 0.02 percentage points to 19.4%.
Interest rates on newly approved loans from MFIs in December decreased as well, with the effective rate falling by 0.43 percentage points to 21.73%, and the nominal rate by 0.35 percentage points to 19.5%.
The average weighted effective interest rate on deposits remained unchanged in December compared to November, standing at 0.25%.
The difference between active and passive interest rates in December was 6.25 percentage points, lower than in November.
