Deposits increased with 15 billion ALL this August
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Recent Bank of Albania statistics show that bank deposits of Albanians
increased to 995 billion ALL this August, from 979 billion that they
were in July, marking a monthly raise higher than that of the entire
year.
Deposits in foreign currency have increased, while those in Albanian Lek have dropped. August coincides with the return of emigrants but also the peak of the tourist season, both contributing with the growth of deposits.
Official data from the Ministry of Economic Development say that the number of tourists from January to August was 19.7% higher than the same period of one year ago, while the increased remittances might be related to the revival of Eurozone’s economic activity.
Growth of bank deposits has been law in the recent years due to an economic slowdown and other uses of savings, such as obligations and treasury bonds. However, Albanian banks remain with the higher deposit-credit ratio. For every 100 ALL of deposit, they only distribute 50 ALL in credit, when in most countries of the region they are all used for crediting.
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