TIRANA, July 4 /ATA/ – The foreign currency-denominated deposits, mainly Euro-denominated deposits, continue to account for the largest share of the bank savings in Albania.
Data from the Bank of Albania show that foreign currency-denominated deposits in end of April account for 53.6% of the total deposits in the country’s banking system.
This indicator, according to banking system experts, shows that although the Europe’s single currency is losing ground against Albanian currency Lek, the Albanian citizens keep on trusting Euro as the currency to preserve value of their savings.
According to experts, unlike what is happening with lending, with the national currency Lek increasingly gaining ground, the Euro remains dominant in bank deposits and is apparently perceived by the public as a more reliable currency.
Value of the new bank deposits from January through April rose 20% year-on-year to over 2.94 billion euros, according to central bank.
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