TIRANA, Nov 1 /ATA/- Business overdrafts rank fourth largest in the lending portfolio.
Statistics from Albanian Association of Banks show that overdrafts for many years have been the largest product of bank lending by volume.
Estimating credit to private sector, business overdrafts rank fourth in portfolio size, leaving behind them real estate loans to households, real estate loans to businesses, and loans for purchase of machinery and equipment to businesses.
According to Bank of Albania, overdraft interests have no collateral and are mainly given to individuals who receive the salary at the respective bank. Their annual interest rates are around 12% for this type of loan in both lek and euro.
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