Bank of Albania’s experts say that the demand for loans from businesses and individuals increased in the second trimester of this year, in Albanian and foreign currencies. The interest rate declined in the first months of 2015 and it is foreseen that this trend will continue even in the upcoming months.
According to Bank of Albania’s analysis on the performance of the banking system, lending has increased due to several reasons, mainly because of second-tier banks’ policies to boost lending.
Other reasons that have influenced the banking system in a positive way are the need of consumers to buy houses, the preliminary measures applied by the Bank of Albania to increase lending and the increase of trust regarding the banking system.
The report of the Bank shows that the net balance increased to 29.9% in the second quarter of this year from 2.8% that was registered in the first quarter.
News source/photo credits: ATA