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.

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