Citizens keep one and a half billion in banks

Deposits in Montenegrin banks at the end of February amount to 4,3 billion euros, and are at a record level, while citizens' deposits have grown to almost one and a half billion, Central Bank data show.

The current amount of total deposits is 880 million more than at the end of February last year. For the same period, the total amount of approved loans increased from 3,2 to 3,4 billion.

At the end of February, private domestic companies held 1,05 billion euros in deposits in banks - 180 million more than last year, and state companies 208 million or 50 million more. The government and public administration now have 269 million in banks - 40 million more than a year ago, and the domestic population 1,46 billion or 210 million more... Foreign companies have 426 million in domestic banks, while foreign citizens with us have 750 million euros . Compared to the same month last year, foreign companies increased their deposits by 150 million, and foreign citizens by 250 million.

Of the total deposits of the domestic population, demand deposits account for one billion euros, while up to three months are 22 million, from three months to a year 215 million, from one to three years 179 million, and over three years 39 million. Citizens' deposits at sight increased the most, from 786 million to one billion and three million, while they remained at approximately the same level.

In February, banks issued new loans worth 103 million euros, which is 50 million more than in January of this year and 30 more than in February last year. Of the total amount of new loans, the most were cash loans, 31 million, of which 26 million to citizens and 15 million to the economy. In February last year, citizens took out XNUMX million euros in cash loans, and companies took out XNUMX million euros.

For liquid assets, companies were granted loans worth 28 million euros, while last year that amount was 35 million. The amount of loans for refinancing fell from 10,2 to 4,3 million, while they were increased for the acquisition of fixed assets from 6,7 to 14,7 and for housing from 3,8 to 9,8 million euros.

This shows that companies have less need for loans for liquidity and refinancing, but that they are thinking about investing, while citizens are taking out more loans for consumption due to the increase in wages due to the "Europe Now" program.

A slight decline in the average interest rate continued

The average effective interest rate on loans approved in February was 6,01 percent, while in the same month last year it was 6,09 percent.

The average interest taken by the economy last February was 5,63 percent, and now it was 4,83 percent, while for individuals it was reduced from 7,64 to 7 percent.

According to the purpose, the interest rate on loans for liquid funds was increased from 5,55 to 6,13 percent, for the refinancing of liabilities from 6,09 to 7,83 percent,... while for this period there was a reduction in the rates for newly approved loans for procurement fixed assets from 4,64 to 3,42 percent, for cash from 8,5 to 7,8 percent, housing 4,88 to 4,72 percent...