Bank deposits in Albania increases in Q3
Xinhua, December 28, 2015 Adjust font size:
Bank deposits in Albania in the third quarter of 2015 grew 1 percent from the previous quarter and 3.8 percent year on year, the Albanian Daily News said Monday
Total deposits at the end of September reached 1,090.3 billion lek (8.4 billion U.S. dollars), said the report.
According to the report, individual deposits grew 1 percent year on year, while business deposits grew 10.7 percent year on year, continuing a two-year-long upward trend.
The report attributed the growth to payments businesses recently collected from the government.
In contrast to high deposits, bank loans to businesses have been weak, as Albanian businesses have been reluctant to invest.
In contrast to static business activities, individuals borrowed 2.5 percent more from banks than last year due to increasing consumer demands. However, mortgage loans stayed low as the real estate sector remained cool. Endi