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Lending to households in Albania registers steady growth

Xinhua, September 1, 2016 Adjust font size:

Lending to households in Albania at the end of July saw an increase of 1.9 percent compared to same period of 2015, while overall lending activity continued to tick upwards, the Bank of Albania said Wednesday.

Lending performance improved mainly due to positive developments in the portfolio of loans to enterprises but also loans to households saw an increase, albeit more slowly compared with the previous quarter, the report said.

Lending in the national currency lek continues to be stable, providing the main contribution to the expansion of credit surplus.

On the other hand, the data published by the Central Bank showed that deposits in the Albanian banking system marked a significant growth from June-July, as total deposits in the banking system rose by 4.5 billion lek (36.2 million U.S. dollars).

A total of 3.5 billion lek was deposited only during July, the Central Bank said.

The annual growth rate of bank deposits was 1.2 percent higher compared to the same period of the previous year.

Foreign currency-denominated deposits had highest growth rate due to inflows of euros and dollars from foreign tourists and Albanian migrants returning to the country during the summer season. Endit