Banks hesitate to issue loans, despite economic growth

30/11/2018 17:59

Although the Albanian economy grew with 4%, th financial market didn’t show the same enthusiasm. Official data from the Bank of Albania show that the economy is facing a stalemate.

“Banks have given loans, have taken assets as collateral, but there’s nothing they can do with it”, says Spiro Brumbulli, financial expert.

According to Brumbulli, Banks in Albania have more than 350 million EUR of seized assets for unpaid loans. Being unable to sell them, banks hesitate to issue more loans.

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