Lending to the private sector increased by 2.4%

Tirana, Albania
18 May 2016

Lending to the private sector increased by 2.4% during the first two months of 2016, says the Bank of Albania in a latest report. This has come as a result of the successful implementation of several monetary policies applied by the Bank and now private banks are more interested in lending to businesses.

Another important aspect that has affected the increase of lending to private businesses is the decrease of nonperforming loans, after the Bank of Albania in cooperation with the private bank sector implemented several policies and reforms in this regard, in 2015.

The report published by the Bank also says the country’s economy will increase gradually in 2017 and 2018 and hopes to bring the inflation rate to the Bank’s objective.

News source/photo credits: ATA