Montenegro’s commercial bank assets rose 5.4% y/y to EUR 3.0bn at end-July 2013, quickening from a 4.8% increase the month before on the back of stronger retail lending, data from the central bank (CBCG) showed. The total assets to GDP ratio stood at 85% at end-July.
Loans, which accounted for the bulk of bank assets (83%), grew 5.5% to EUR 2.5bn at end-July after rising 4.8% y/y the month before. Household loans grew 6.6% to EUR 882.5mn over the period, inching up from a 5.9% annual increase in June.
Corporate lending growth slowed to 0.6% (with a total of EUR 1bn) at end-July from 2.3% the month before as rising loans to foreign and state-owned companies was partly offset by falling loans to private companies.
Bank lending and assets have been showing signs of recovery since January 2013 after retreating in annual terms since January 2010 (latest available) supported by both the corporate and retail segments. However, corporate lending growth has weakened since the second quarter of the year, possibly reflecting reduced demand and banks’ cautious attitude towards rising NPLs (at close to 20% as of end-May).
|Montenegro's bank assets and loans, EUR mn||Dec-09||Dec-10||Dec-11||Dec-12||May-13||Jun-13||Jul-13|
Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more
Montenegro’s high court has seized the passports of two opposition leaders accused of plotting a coup as a precautionary measure. Andrija Mandic and Milan Knezevic – two of the leaders of the ... more
The summer tourism season in Montenegro started earlier than expected and indicates that this year the revenue will exceed €1bn – the ... more