Every Montenegrin owes €3,870

#CentralBankOfMontenegro(Cbcg) #Loans #Montenegro #Deposits

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Montenegrin banks approved €2.37bn in loans in May, which is by 0.5% more than in April. This would mean that every citizen is €3,870 indebted, Pobjeda newspaper carried.

According to the Central Bank of Montenegro (CBCG), the banks approved by 1.5% fewer loans compared to May last year. The ratio between loans and deposits in May was lower than in the same month last year and amounted to 0.9%, a new CBCG Bulletin carried.

At the end of May, total deposits on a monthly basis grew by 0.5% to €2.62bn, whereas they rose by 10.4% on annual basis.

Fix-term deposits accounted for 49.2% of the total, whereas sight deposits accounted for 50.7%. The remaining 0.1% was related to the funds in the escrow account.

Among fix-term deposits, those with maturity from one to three years had the largest share, ie 49%. Deposits with maturity from three months to one year accounted for 37.6%. Total household deposits at the end of May amounted to about €1.45bn, which is by 0.6% lower than in April and by 6.3% higher compared to the same month last year. When it comes to the maturity structure of deposits from individuals, fix-term deposits accounted for 57.4% and sight deposits accounted for 42.6%.

Source: Cafe Del Montenegro