Lending activity in Montenegro remains subdued in October 2011.

By bne IntelliNews January 9, 2012
Total loans in the banking sector of Montenegro fell by 13.9% y/y to EUR 1.941bn in October, the central bank (CBCG) reported. The decline accelerated from 13.5% y/y registered in September. We remind that the expansion rate turned negative in May 2009 after 16 consecutive months of credit growth deceleration. The value of total loans dropped in monthly terms too - by 0.8%. Loans to private companies shrank by 24.34% y/y to EUR 0.917bn at end- October. Household loans also registered a decline - 2% y/y. The total credits extended by commercial banks accounted for 67.3% of total bank assets and covered 59.3% of the projected GDP for the full year.

Lending activity in Montenegro remains subdued in October 2011.

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