Tirana, December 20, 2015
Micro financial institutions that currently are active in the country have experienced a significant growth during 2015, as showed in a report published by Bank of Albania. According to the data published in the report, the total amount of stocks of the micro financial institutions reached the value of ALL 6.7 billion during the third quarter (Q3) of 2015.
Comparing this figure to the same period of a year before, the report says that the amount stocks of these financial institutions increased by 3.6%, proportional to the increase of deposits. In the third quarter of 2015 the deposits of micro financial institutions increased by 7% compared to the Q3 2014, reaching a value of ALL 3.7 billion.
Currently, there are several micro financial institutions that operate in the country, mainly by providing small loans for the agriculture sector. As estimated by the Bank of Albania, the lending portfolio of these institutions reached the amount of ALL 4.8 billion on September of this year, increasing by 5.2% compared to September 2014.