TIRANA, August 14 /ATA/- The stock of deposits in the banking system increased by about ALL 13.6 billion in the second quarter of the year, or about 6% in average annual terms.
The Bank of Albania noted that their expansion has taken the form of lek deposits, which have increased by ALL 17 billion, offsetting the contraction of about ALL 3.4 billion in foreign currency deposits.
The decline in foreign currency deposits during this period is concentrated in April. This performance mainly reflects the contraction of foreign currency deposits of businesses, which under the conditions of the COVID-19 pandemic, have partially used their funds to meet short-term liquidity needs.
According to the BoA, household deposits have contributed to the expansion of the total deposit stock, marking an increase of about 9 billion during this period.
The time structure of deposits has continued to shift towards the liquid component. Time deposits in the banking system accounted for about 48.5% of total deposits in June, marking an increase in their share by 0.7% from the end of the first quarter of the year.
Meanwhile, there has been a partial shift towards deposits with a maturity of over two years, but at lower rates. Their share has increased by 0.2% since March, to 13.6% of the total deposit stock. e.xh / /a.g/p.s./
