NewsInterest rates in June show stability and minor changes in Montenegro's financial...

Interest rates in June show stability and minor changes in Montenegro’s financial sector

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In June, the average weighted effective interest rate on total approved loans in Montenegro held steady at 6.61%, according to the Central Bank of Montenegro (CBCG).

The average weighted nominal interest rate saw a slight decrease of 0.01 percentage points, reaching 6.12%, as detailed in the CBCG Bulletin. For new loans to individuals, the effective interest rate in June was 7.93%, and the nominal rate was 7.21%. This represents a reduction of 0.86 percentage points and 0.68 percentage points, respectively, compared to the previous quarter. This decrease corresponds with the promotional loan offers initiated by the CBCG.

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Interest rates for microfinance institutions (MFI) on total approved loans increased by 0.06 percentage points in June, with the effective rate at 21.62% and the nominal rate at 19.25%.

For new MFI loans, interest rates also rose in June. The effective rate climbed by 0.25 percentage points to 23.21%, while the nominal rate increased by 4.23 percentage points to 20.61%.

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The average weighted effective interest rate on deposits rose by 0.02 percentage points to 0.25% in June.

The gap between active and passive interest rates in June was 6.36 percentage points, reflecting a decrease from May.

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