Nominal rates in October were by 0,48% lower, whereas effective ones were by 0,55% lower in comparison to the beginning of the year. Rates for savings fell by 0,16%.
As far as the changes in interests are concerned, both nominal and effective fell by 0,01% in October and the weighted average nominal interest rate of banks amounted 5,79. The effective interest rate amounted 6,39%.
For the loans in banks approved granted for the first time, weighted average nominal interest rate amounted 6,14%, whereas the effective interest rate amounted 6,92%.
Average weighted passive effective interest rate was at the same level in October as it was one month earlier (0,58%). At an annual level it fell by 0,16 percentage points.
The difference between the interests on total amount of granted loans and passive interest rates amounted 5,81%.
“Total amount of loans granted at the end of 2018, amounted €2,98 billion and they have recorded a decline at both monthly and annual level (by 0,2% and 9,2% respectively). Coefficient loans/deposits amounted 0,86% and it remained at the same level as in October of 2017”, reads the report of the Central Bank of Montenegro.
Deposits in banks amounted €3,46 billion and they were slightly lower in comparison to September.
Around 64,1% accounted for demand deposits and 33,8% were term deposits. The remaining 2,1% referred to the funds on ESCROW account.
