The second trimester of this year seems to have been a positive turn in the bank system in relation to loans offers that private banks provided for businesses and individuals. A latest survey by the Bank of Albania shows that second tier banks increased the level of loans offers for business or individual purposes. They have simplicated the requirements for granting loans in order to increase lending in country.
For small and medium sized companies now it is more easy to receive loans which will be used for investments. In turn, loan standards applied for corporations have not changed from the first trimester of this year.
According to experts, this positive change has come as a consequence of the improvement of banks’ liquidity and the sufficient capital gathered within time. Competition among private banks is another reason of this change and the measures taken by the Bank of Albania in boosting lending.
News source: ATA
Photo credits: Tuitalau