The Bank of Albania announced that lending to economy marked an increase during November, 2014, which is estimated at 561 bn lek or nearly 4 bn lek more than October, 2014.
According to Bank of Albania, increase in lending on year-to-year basis is estimated at nearly 3.8%, which is the highest figure since a year and a half, meanwhile the end of 2014 has found lending on rebound.
Experts say that increase in lending is mainly related to business loan which rose by more than 3.5 bn lek in November. Invigoration of business has been reflected in lending. Improvement of liquidity on market and increase of economic growth have led to increased demand for loans by the side of business.
As increase of lending in the last quarter, 2014 is deemed as seasonal, the bank offer to extend loans is assessed as having improved owing to increase of revenues, stabilization of non-performing loans after several years of intensive work for management of problematic portfolio and prudent policies in lending.
News source/photo credits: ATA