September 20 (SeeNews) - Montenegrin banking system's ratio of non-performing loans (NPLs) to total loans currently stands at 7.4%, central bank governor Radoje Zugic has said.
The Montenegrin banking sector is characterised by stability, high liquidity and solvency, with NPL ratio continuously decreasing, Zugic said on Wednesday, according to a statement by the central bank.
The NPLs in Montenegro currently amount to 217.9 million euro ($254.8 million), a ratio of 7.4%, and this is a significant drop compared to 2011, when the NPL ratio was 25.9%, Zugic said during a meeting with representatives of the European Central Bank (ECB) in Frankfurt.
"In 2017, the Montenegrin economy grew by 4.3%. This trend has continued this year, thanks in particular to strong investment activity, growth of domestic demand and private consumption, as well as increased tourist traffic," Zugic said.
The central bank said in February the share of non-performing loans in the banking system stood at 7.29%.
($ = 0.855163 euro)