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Citizens have €1,8 billion in banks

Population, economy and the Government in Montenegro owed more than €3 billion to the banks on the grounds of different types of loans, shows the latest data of the Central Bank of Montenegro.

Domestic and foreign citizens owe €1,315 billion but have €1,787 billion in their accounts.

At the end of August this year, financial institutions in Montenegro arranged a total of €3,033 billion of loans for population, economy and the Government. Citizens of Montenegro owed €1,303 billion.

Montenegrin companies had borrowings worth more than €1 billion, whereas foreign financial firms owed €347,5 million. Domestic financial institutions had €25 million of loan debt and NGOs had €8,8 million of debt.

Local and state governments, funds and state-owned companies had borrowings with total value of €230 million. This way, Government owes €151,5 million. Local administrations- €41,5 million, funds – €1,5 million and state companies owe €35,5 million.

Average interest rates on all borrowings were 3,08% in August.

Interest rates for Government and its institutions were geld at the lowest range. Citizens still pay most to the banks – interest rates amounted to 7,63% at annual level.

For cash borrowings, banks were reimbursed with 8,49% of total funds at annual level. They earned most from education loans.

On the last day of August there was a total of €3,535 billion deposited in Montenegrin banks. Around €1,289 billion belongs to Montenegrin citizens. Banks and similar institutions have €34,4 million, companies have €888,2 million and non-profit organizations have €59,2 million. Government entrusted €180,4 million, local administrations – €70,2 million, funds- €5,97 million and state companies – €246,8 million.

As far as deposited funds of foreigners are concerned, financial sector keeps €8,7 million in the accounts of Montenegrin banks. Other foreign companies have €25,9 million, non-profit organizations have €3,1 million and foreigners have €497,9 million.

Average passive interest rate applied to keeping money in banks amounted to 0,43% at the end of August. That means that companies could have earned 0,29% of the total amount annually, whereas the population could have had 0,58% of the amount.

Deposits interest rates are still at 0,02% at annual level.

Lowest interest rates are demand deposits and one-year deposit interest rates (0,01% and 0,03% respectively).

 

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