According to the Central Bank (CBCG), by the end of 2021, citizens of Montenegro had a total of 1.4 billion euros in local banks, and their savings increased by 15 percent, or 188 million euros, over the year.
In December alone, citizens increasedtheir depositsby five percent.
“In the structure of household deposits by maturity, at the end of December demand deposits accounted for 67.92 percent, time deposits for 32.04 percent, while a small share — 0.04 percent — was held in escrow accounts,” the CBCG January bulletin said.
The total volume of bank deposits reached a record 4.2 billion euros on the last day of December, which is 24.6% more than at the end of 2020. Of this, 35.4% came from domestic residents’ savings.
Non-residents held 1.17 billion euros in banks, 1.19 billion euros in the economy, and 276 million euros in the government.
At the end of December, banks had a total of 3.36 billion euros in approved loans, which is 6.4 percent more than in the same month of 2020.
“By loans at the end of last year, banks had the largest exposure to the economy and households, accounting for a total of 77 percent,” CBCG said.