TIRANA, May 7 /ATA/ – The Bank of Albania announced Monday that over 60% of 23 billion lek in credit instalments and the restructuring of the existing loans has been settled by postponed payment deferral.
According to central the BoA, the rest is carried out through interest capitalization or interest arrears, offering a delay period of principal or interest and changing principal.
During the following periods, central bank will continue to closely monitor and analyze progress of approved applications and loans for restructuring through regular and special bank reporting, not only to monitor the effects of the pandemic on the performance of the loan portfolio and the financial situation of domestic businesses, but also as a standard part of its analysis of credit quality.
Credit restructuring was one of the measures taken by the BoA in 2020 to support businesses and individuals facing financial woes in the wake of the Covid pandemic crisis.
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