Banks in Montenegro Granted 3 Billion EUR Loans from January-April 2019

By , 14 Jun 2019, 01:07 AM Business
Banks in Montenegro Granted 3 Billion EUR Loans from January-April 2019 Copyrights: Central Bank of Montenegro

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12 June 2019 - In the four months of this year, banks have granted loans in the amount of 2,95 billion EUR in total. It represents a 2,7% decline at a monthly level, indicates the data of the Central Bank of Montenegro, as reported by Cafe del Montenegro.

The amount of the granted loans is 4,3% higher in comparison to the first four months of last year. As far as the deposits are concerned, they declined by 3,2% in April in comparison to March and amounted to 3,32 billion EUR. At an annual level, deposits increased by 1%.

“There has been a decline in deposits at the monthly level since Atlas bank has been excluded from the records,” explained the representatives of the Central Bank of Montenegro.

If deposits of Atlas Bank are left out from the total deposits in April, the savings increase at banking system level amounts 7,6% annually.

“Time deposits make up 32,3% of the total, whereas demand deposits made up 67,6%,” stated the Report generated by the Central Bank of Montenegro.

In mid-May, the Central Bank of Montenegro reported that thirteen banks that operate in Montenegro (apart from Atlas and IBM that went bankrupt) were in the plus 14,3 million EUR at the end of the first quarter. Every bank has made a profit except for Nova and Zirat. Universal Capital Bank had the biggest increase in profit. In comparison to the same period last year, its profit has increased by 13 times.

Banks have earned a total of 33,4 million EUR based on interests and 8,3 million EUR based on fees and commissions. Erste Bank has made the highest profit in three months – 2,4 million EUR. It has earned 5,5 million EUR based on interests and 579.000 EUR based on fees and commissions.

Read more about Business in Montenegro at TMN's dedicated page.

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