The average weighted effective interest rate on total approved loans, which includes all costs, fell by 0.02 percentage points in July to 6.29%, according to data from the Central Bank of Montenegro (CBCG).
The average weighted nominal interest rate on total approved loans also declined by 0.02 percentage points, standing at 5.76%.
Interest rates on newly approved loans in July decreased as well, with the effective rate dropping by 0.06 percentage points to 5.91% and the nominal rate by 0.03 percentage points to 5.41%.
In contrast, interest rates charged by microcredit financial institutions (MFI) rose. On total approved loans, the effective rate increased by 0.01 percentage points to 20.74%, and the nominal rate by 0.02 percentage points to 18.66%. On newly approved MFI loans, the effective rate grew by 0.22 percentage points to 21%, while the nominal rate rose by 0.26 percentage points to 18.92%.
The average weighted effective interest rate on deposits in July was 0.26%, down 0.01 percentage points from June.
The gap between lending and deposit rates stood at 6.03 percentage points in July, marking a decrease compared to the previous month.
