TIRANA, Jan 13 /ATA/ The Supervisory Council of the Bank of Albania approved on Wednesday the decision to postpone until March 31, 2021 the approach to restructured loan classification and provisioning, provided in the previous decision of the BoA, to have effect until December 31, 2020.
This decision provides space for second-level banks to restructure and reschedule the loans of borrowers in financial distress due to pandemics.
The BoA reports that it is the second-level banks that will decide on the restructuring of loans on the basis of individual analysis of borrowers who submit requests of this type.
Amid the difficult economic situation created by the pandemic, thanks to the installment payment moratorium in March 2020, over 25 thousand bank loans with a total value of about two billion euros were deferred.
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