Loans, banks lower interests

09/07/2011 08:00

The average interest rate for loans in ALL and foreign currency, given
from second level banks in Albania, is much lower than the average of
the last months, a situation that contradicts the expectancies of
economic experts for higher rates.

The average interest rate of loans in ALL with a six months maturation term fell to 11.2%, while during May 2010, the average interest rate was 15%.

Another decline had the interest rate of loans with a maturity term of 12 months and midterm loans that can be repaid in three years.

While the interest rate of long-term loans was growing. The loans in Euro had a decline in the interest rate of short-termed loans, while the loans with a repayment period of six months are staying at the same level.

The growth of bad loans sets a new historical record during April, with 15.2% of the total given loans, which together with the general national economic slowdown gave the impression that loan rates would increase.

Minister of Finances, Ridvan Bode, declared: “Many economic actors are expecting the return of the pre-crisis conditions, in order to experience the flowing of liquidity and have an easy domestic and regional race”.

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