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Albanian banking system sees fall in non-performing loans

Xinhua, March 30, 2017 Adjust font size:

The level of non-performing loans (NPLs) in the Albanian banking system fell to 18 percent in February, thus reaching the lowest level since July 2011, Bank of Albania said Thursday in a press release.

Caused by the rapid weakening of actual uncertainties, the Bank considers that all the premises are in place for the lending activity to post growth during 2017, said the central bank.

Meanwhile, experts told local media the decline in non-performing loans level was a positive signal in terms of credit growth especially in the business segment, where banks still appeared to be very conservative in loans.

The central bank expects credit supply to ease, driven by the measures for reducing non-performing loans and promoting healthy credit.

The bank also expects the economy to record growth, inflation to move gradually towards the target, financial markets to continue to be calm, and interest rates and financing conditions consistent with the achievement of our inflation objective.

The bank informed that its supervisory council deemed that the current stance of the monetary policy was adequate, so it kept the key rate unchanged at the level of 1.25 percent. Endit