In November, banks in Montenegro approved loans to citizens, businesses and the government in the total amount of €107.85m, at an average nominal interest rate (NIR) of 4.65% and effective interest rate (EIR) of 5.19% of the total amount of loans at an annual basis, according to new data from the Central Bank of Montenegro, Dnevne Novine reports.
Since the beginning of 2021, banks have approved a total of €967.44m in loans to their clients, which has already exceeded the amount for the whole of 2020, amounting to €908.4m.
The trend of significant borrowing of legal entities, as a consequence of the crisis caused by the coronavirus pandemic, continues, because in November alone they were approved €74.96m, which is the largest amount in the past 12 months. Since the beginning of 2021, they have been approved a total of €617.71m.
