Loans, businesses add demand

01/09/2011 08:15

The portfolio of loans taken in Euros by Albanian businesses during
July increased with 14%, which might have caused a considerable increase
of the interest rate for the loans in Euro.

The news comes from statistic data published by Bank of Albania, according to “Shqip” newspaper.

The total of the loans in Albania reached 516 billion ALL by the end of July (around 3.7 billion Euro), with an increase of 12.5% compared to one year ago.

Loans in foreign currency for private businesses, which makes half of the total loans in Albania, increased with 14.3% in annual terms.

On the same time, the interests of short term loans in Euro had a considerable increase.

The six month term loans increased with 1.4 percentage points within a month, an unusual increase in such a short period of time.

Six-month to 1 year term loans increased with 0.7 percentage points, while medium term loans, 3 to 5 years, are 0.6 percentage points more expensive.

The interest rates had a significant dive during the second trimester of this year, reflecting the low demand from consumers and businesses, but they returned over the long-term average during July.

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