On a monthly comparison basis, however, loans shrank by 0.18% in February, the central bank, CBCG, said in its monthly report published earlier this month.
Out of total loans, 3.37 billion euro was granted to Montenegrin residents, while the remaining 795 million was loaned to foreigners, the statement read.
Loans disbursed to the non-financial and the retail sectors accounted for 73% in bank loan receivables at end-February.
The general government, including local governments and state funds, owed 306 million euro in loans to banks at the end of February, up 21% year-on-year, while private companies owed 1.27 billion euro, an increase of 2.3% on an annual comparison basis.
Household loans were 9.6% higher year-on-year at the end of February, totalling 1.72 billion euro.
The loan-to-deposit ratio rose to 0.77 at the end of the second month of the current year, from 0.73 at end-February 2023 and from 0.75 at the end of 2023.
In 2023, Montenegrin banks' loan portfolio increased by 12%, according to CBCG data.
($ = 0.921 euro)