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Crediting to enterprises in Albania still fragile:bank

Xinhua, February 13, 2017 Adjust font size:

Credit to enterprises continues to be fragile, being affected by both tight supply and slow recovery of credit demand, Albanian central bank has said in its last quarterly monetary policy report.

The crediting to enterprises registered an annual growth rate of 2.6 percent in fourth quarter of 2016 but such growth rate stood below those of the two previous quarters, a Bank of Albania expert told local media on Sunday.

Nevertheless, the expert noted that compared to the developments in Q3, in October and November, the monthly dynamic of credit to enterprises has improved, driven by the credit for investments.

According to BoA representatives, the slow recovery of credit to enterprises was driven by tight crediting standards, in particular to large enterprises, which has the highest share in this portfolio and by the slow recovery of the demand for financing from qualitative customers.

Meanwhile, the experts admit that the high level of non-performing loans remained one of the main concerns of banks. Endit