Banks transfer money
15/10/2013 00:00
Advanced cocaine laboratory is discovered in north of Tirana, 7 Albanians and 3 foreigners arrested 16/11 15:43
Albanian banks keep transferring abroad the savings of the Albanian
people in masses. Recent official data show that in August, the banks’
gross investments in foreign economies reached 2 billion USD.
Compared to one year ago, the number has increased with 10%. In four years it has increased with eight times. Most of the funds have been invested as deposits in foreign banks, others in current accounts but also loans that Albanian banks have given to foreign ones.
Data show that the list of transfers is headed by Greek banks, which have transferred more than 540 million USD. Second are the Italian ones, and then those with Albanian capital, which have transferred more than 200 million USD.
On March of this year, the Bank of Albania tried to stop the phenomenon by passing a measure that obliged banks to increase the paid capital when they invest abroad. Numbers show that the effort has not worked. The causes, according to experts, are the weak private sector demand for loans and the increased risk perception of banks in the Albanian economy.
Top Channel
