Deposits in banks higher than the national debt

Deposits in banks at the end of October amounted to 4,06 billion and are at the highest level ever. According to data from the Central Bank (CBCG), deposits are now 750 million more than in October last year.

According to the data of the Ministry of Finance, the net public debt at the end of September amounted to 3,55 billion, that is, the deposits of businesses and citizens in banks are 500 million more than the national debt.

Total approved loans at the end of October amounted to 3,44 billion, so deposits are about 600 million more than issued loans. This shows the significant strength and preservation of the banking sector, which has room to increase lending to the economy, citizens and the public sector.

Deposits and savings of Montenegrin citizens amount to 1,35 billion euros and are 130 million or 11 percent higher than in the same month last year.

Deposits of the economy amount to 1,25 billion and are 230 million or 22 percent higher than 12 months ago. The public administration at the state and local level has deposits in banks of 283 million and they had a growth in the comparative period by 50 million or 20 percent. The domestic financial sector had deposits of 47 million, which is at the level of last year. Deposits of non-governmental and non-profit organizations amount to 60 million euros and are XNUMX million more than a year ago.

Foreign companies and citizens had deposits in Montenegrin banks at the end of October of 1,06 billion, which is 340 million or 48 percent more compared to the same month last year. From foreign deposits to foreign citizens, 606 million euros are transferred, which is about 150 million more, while foreign companies increased their deposits for the year by almost double from 234 to 445 million euros. Foreign financial organizations have reduced their deposits from 12 to seven million euros in the previous 26 months, while foreign non-governmental and non-profit organizations have the same amount in banks of three million euros.

Data on the maturity of domestic citizens' deposits show that demand deposits (money in a current account without a fixed term) have increased significantly from 758 million euros in October last year to the current amount of 901 million, while time deposits (classic savings with interest) for the same period slightly decreased from 467 to 456 million euros.

At the end of October, domestic companies owed Montenegrin banks 1,13 billion for loans, which is only one percent or 17 million more than a year ago. Citizens owe 1,42 billion euros to banks for loans, which is about two percent or 30 million more than a year ago. The total credit obligations of foreign legal entities and individuals towards Montenegrin banks at the end of October amount to 592 million euros, which is 240 million or 66 percent more than a year ago.

Lending increased, interest rates decreased

In October, Montenegrin banks approved 100 million euros worth of new loans, which is 21 million or 26 percent more than in the same month last year.

The economy received the most 62 million or 29 percent more, and citizens took loans worth 33 million, which is an increase of about 10 percent. The most money was taken for liquidity - 40 million, cash loans 20 million, for refinancing 13 million, housing loans 8,8 million...

The average effective interest rate on loans approved in October was five percent, and a year ago it was 6,09 percent. On loans for liquidity it was 4,22 percent (last year it was 5,53), for cash loans 8,16 percent (last year 7,99), on loans for refinancing 4,13 percent (last year 4,84), for housing loans 4,83 percent (4,98 percent last year)...