TIRANA, Nov 4 /ATA/- Credit growth to economy is continuing, driven by rising private sector demand, lower interest rates and reduced share of non-performing loans.
Bank of Albania announces that lending to private enterprises has recorded an annual increase of 3,3 percent. The data show that at the end of September 2019 credit to private business amounted to ALL 332 bn.
In addition to credit growth, the gradual decrease in the effect of loans written off the balance sheets has had a significant impact. Since 2015, banks have written off over 55 billion ALL in lost loans. This has reduced the ratio of non-performing loans, but in turn has had a corrosive effect on the size of the loan portfolio for businesses.
/e.xh/j.p/sm/
