Montenegro, Average weighted effective interest rate on total approved loans amounted to 5.92%

Published on 22. February 2023., News

The average weighted effective interest rate on total approved loans, which includes all their costs, in December compared to November increased by 0.11 percentage points and amounted to 5.92%, according to data from the Central Bank (CBCG).

– On a monthly basis it increased by 0.12 percentage points to 5.45% – it is stated in the CBCG Bulletin.

Interest rates on newly approved loans also increased, effective 0.11 percentage points to 6.55%, and nominal 0.42 percentage points to 6.02%. The effective interest rate of microcredit financial institutions (MFIs) on total approved loans in December remained unchanged at 23.42%, while the nominal rate fell by 0.01 percentage point to 20.49%. The effective MFI interest rate on newly approved loans on a monthly basis fell by 0.13 percentage points to 23.67%, while the nominal one increased by 0.02 percentage points to 20.52%.

The average weighted effective interest rate on deposits in December was 0.01 percentage points lower at the monthly level at 0.26%. The difference between active and passive interest rates in December amounted to 5.66 percentage points and was higher compared to November.

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