Loans, banks lower interests
09/07/2011 08:00
Linda Rama: Between Family, Work and Albania’s Future 18/08 14:30
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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