Since January, the level of bank deposits has been decreasing in Albania. The data show that there are 41 billion lek or 3% less savings in the banking system.
The biggest drop is in foreign currency deposits, while those stored in the national currency LEK, have decreased by 13 billion ALL in the span of four months. A major role in this has been played by the devaluation of the euro, which has decreased by 10% in the space of one year.
As for loans, the latest data from the Bank of Albania show that the granting of new loans has slowed down during April, while the total amount of loans to the economy continues to be high.
In the annual report before the economy commission, the governor of the Bank of Albania states that the figures are predictable in the situation of the price crisis.
“Lending is growing positively, regardless of the impact of interest rates. The growth rates will be lower, since in this crisis situation there is also an effect from the paying abilities of the customers. But, from the data we received from the banks, we will continue to have credit growth. We also expect that the rate of non-performing loans will not increase, even though this was one of our biggest fears,” says Sejko.
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