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. |
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'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 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