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Deposits in Albanian banking system hit new high in 2016

Xinhua, March 3, 2017 Adjust font size:

Bank deposits in Albania saw a significant growth during 2016, hitting the new high of 1.014 trillion leks (7.8 billion U.S. dollars), the Bank of Albania (BoA) announced Thursday.

After growing by 17 billion lek in December, bank deposits declined slightly by 300 million lek in January 2017, but remaining in position to the annual growth, the central bank said.

According to data published by BoA, banks' total deposits registered a growth by 3 percent compared to last year.

It noted that the growth of the deposit in the banking system here during 2016 was mainly driven by foreign currency which has expanded by 6.6 percent in a year.

On the other hand, the foreign investment and exports growth trend were regarded as favoring positive indicators.

Foreign investment flows and an improving positive trend in exports are deemed as two main factors supporting the growth in deposits. Endit