Bank loans in Montenegro down 4.3% y/y as of end-June.

By bne IntelliNews July 23, 2012
Banks' lending activity in Montenegro remained on the downside in June as loans fell by 4.3% y/y to EUR 1.96bn, central bank data showed. Gross loans narrowed m/m for a second consecutive month. They inched down 0.2% m/m in June, following a decline of 0.4% a month ago. Loans of the largest borrower, non-financial institutions, dropped by 11.1% y/y to EUR 989mn versus 15.3% annual decline in May. Households also reduced their debt by an annual 2.8% to EUR 831.7mn. Credits extended by commercial banks accounted for 70.4% of total bank assets, down by 0.4pps on the year. In our calculations, the amount of total credits was equal to 57.5% of the projected 2012 GDP, which compares with 62.5% of GDP a year earlier.
Montenegro: Credits extended by commercial banks, EUR mn, eop Dec-08 Dec-09 Dec-10 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12
Total credits, EUR mn, eop 2,797.5 2,397.8 2,200.0 1955.69 1945.73 1943.00 1963.88 1971.518 1963.286 1958.443
% change, y/y (rhs) 24.5 -14.3 -8.2 -11.1 -9.4 -9.7 -6.1 -5.8 -6.5 -4.3
% change, m/m 0.6 -6.2 -1.2 0.9 -0.5 -0.1 1.1 0.4 -0.4 -0.2
% ytd 24.5 -14.3 -8.2 -11.1 -0.5 -0.6 0.4 0.8 0.4 0.1
Source: CBCG, IntelliNews calculations

Bank loans in Montenegro down 4.3% y/y as of end-June.

Related Articles

Montenegro says to borrow EUR 220mn this year, down 12% than planned.

Montenegro's government said it decided on Thursday, March 21, to reduce to EUR 220mn from EUR 250mn the amount it plans to borrow this year for financing its budget spending and servicing ... more

Montenegro reports increased budget revenue in Q1.

Montenegro's budget revenue increased by 11.5% y/y to EUR 195mn in the period from January 1 to March 20 due to higher profit tax, social contributions and VAT inflows, news service ... more

Mobile phone penetration in Montenegro drops to 155.5% in Feb 2013.

Mobile phone penetration in Montenegro dropped to 155.5% at the end of February 2013, from 159.81% at end-Dec 2012 and 163.66% a year earlier, the latest figures of the telecommunications agency ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss