The Albanian Association of Banks has published a report on the performance of the bank system during the period of January-October 2014, which estimates the performance of it as positive. The bank system in Albania has improved in the aspect of lending portfolio and the profits which, during the above mentioned period, are estimated to be 56.5 ml EUR. A high financial result was confirmed even for October.
The level of outstanding loans decreased slightly to 24.7% from 25% that it was in September. Even why the number of outstanding loans remains high, the situation has stabilized in the last year and despite that, banks have declared increase of their profits. Banks deterred from giving loans to businesses and individuals after the economic crisis touched the country’s economy and so there was noticed an increase of outstanding loans.
The situation stabilized and businesses have started to repay their loans, which is a very positive sign for the economy of the country and the bank system as well. Economy experts are calling for banks to increase their lending to businesses and individuals in the upcoming months, since this move will be in benefit to the economy and also banks.