Interest rates go down, deposits on the rise

Interest rates are plunging. Despite low passive interest rates, deposits are on the rise which means trust in the banking system is satisfactory, it was concluded in the meeting between Central Bank delegation with the European Central Bank (ECB).

Governor of the Central Bank of Montenegro, Mr Radoje Žugić, met with the ECB representatives in Frankfurt, where he pointed out that in the past six years Montenegro’s economy had recorded continuous growth.

“According to official data produced by Statistical Office of Montenegro, last year’s growth rate amounted to 5,1%, thanks to intense investment activity in public and private sector. Fiscal sphere also recorded positive developments”, added Mr Žugić.

Mr Žugić pointed out that situation in the banking sector was strengthened after the issue of vulnerable banks had been settled. Banks’ assets, totaling €4,6 billion, is at its maximum level. Solvency coefficient is extremely high -19,5% .


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