Deposits increased significantly on November 2015

Deposits increased significantly on November 2015

Tirana, January 8, 2016

The total amount of deposits in the banking system in Albania increased to ALL 974 billion by the end of November 2015, according to a report released by the Bank of Albania. Deposits of individuals and businesses increased by ALL 2 billion, in comparison to October 2015 while in annual terms deposits increased by 2.5%.

The increase of the amount of deposits has been affected by the increase of term deposits in foreign currency which increased by All 3.5 billion during this time, says the report. On November, the euro offer increased significantly in the financial markets and this weakened the euro in comparison to the Albanian Lek, according to experts.

Experts argue that the increase of deposits in Euro may have been affected also by the EUR 150 million loan taken by the Albanian government through the emitting of 5 year term bonds in the international financial markets.

News source/photo credits: ATA

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