Although Montenegrin citizens and businessmen had more than Euro 2, 7 Billion in Loans, data of the Loan Regulatory Bureau of Montenegrin Central Bank (CBCG) suggest that the loan-takers are diligently fulfilling their obligations.
Head of Department for Control of Loan Risks of CBCG, Veselin Vukovic stated that the system of banks and micro-financial institutions (MFI) reveals that total value of loans which are not being serviced regularly (loans which are 60 and more days due) amounts at Euro 54,6 Million.
“This makes only two percent of the total amount of loans. The most significant noted loan is in the group of 60 to 80 days and amounts at 44, 2 percent of the total amount of loans with delayed payments”, Vukovic stated.
Regulatory Bureau for Loans of CBCG started receiving information from the banks in April of 2005. It has been formed to regulate loan risk of banks, as the dominant risk in the banking system of Montenegro. Exchange of data from the registry basis with banks and MFI commenced nine months ago.
“At this point, Registry does not have a role of the true Credit Bureau, as individuals and companies cannot obtain data about their debts with the banking system or with the MFIs. For the time being, there is no possibility for citizens or companies to obtain personal reports as evidence about their debt or credit history. Sector for controls is working on improving the project of Credit Bureau so that the possibility for this service would be considered in the future”, Vukovic has explained.
In its’ loan registry, CBCG is preserving data about the debts since its’ foundation. It also intends to introduce a regulation which would specifically define the time-frame for saving the data on client’s loan history.
“This data-base includes the data on client’s debts based on their use of credit cards, overdraws on their accounts and leasing for 181,621 clients, out of which 175,293 individuals and 6,328 companies.
Total value of this debt is Euro 1, 7 Billion or 63, 57 percent of the total debt”, Vukovic clarified.
Statistic data shows that 97 percent of this debt is in credits, 1, 1 percent is for credit cards, while overdraws on accounts and leasing cleared from banks makes 1, 5 percent and 0, 4 percent of the total debt, respectively. According to the same data, average debt of citizens with banks amounts at Euro 5, 818 for individuals and Euro 281, 211 for companies.
“Credit Registry started collecting data also about debts with MFIs. And, according to the data, 30, 965 citizens and 144 companies are using services of these institutions.
MFIs have cleared total of Euro 67, 1 Million in credits, out of which 98, 5 percent to citizens and 1, 5 percent to companies”, Vukovic stated, adding that the Registry has no data on the debt with the Leasing companies.
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