TIRANA, Nov.13 /ATA/- In the third quarter of this year, household loans increased by 5.1%, the Bank of Albania (BoA) reported on Friday.
According to the BoA, in the third quarter of this year the lending performance was balanced by the positive performance of home loans, while consumer loans showed slow growth rates.
“The individual loan portfolio is dominated by home loans, which accounted for about 64% of the total.
In the third quarter of this year, there has been an increase in the loans to households for home purchases. The annual growth rate of loans to households for home purchases was about 7%, similar to the previous quarters.
The COVID-19 pandemic situation has negatively affected the individual loans. On the one hand, there is a strong reduction in the demand for financing due to uncertainty about the future and negative developments in the labor market. On the other hand, banks have also been careful in expanding lending in this segment due to the perceived risk and their reluctance to take more risks.//a.i/
