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Albania sees fall in non-performing loans

Xinhua, February 2, 2017 Adjust font size:

The level of the non-performing loans in the Albanian banking system fell to 18.2 percent during December 2016, down from 20.1 percent in September, the governor of the Bank of Albania Gent Sejko told reporters Wednesday.

The reduction reflected the combined effects of the improvement of the economic situation, credit restructuring and non-performing loans write-off from balance sheets, the governor added.

Albania's economic activity continues to expand while the outlook for the future remains positive, Sejko added.

He highlighted that the Bank of Albania expected crediting to improve further in 2017, considering the signals for a gradual recovery of credit demand and the positive effects on the supply side from the materialization of measures for the reduction of non-performing loans.

On the other hand, he said that inflation will return to target within 2018.

The bank's supervisory council concluded that the actual monetary policy stance was adequate and decided to keep the policy rate unchanged at 1.25 percent. Enditem