TIRANA, Aug 26 /ATA/ The Bank of Albania announces that the total of overdrafts used by individuals reached the value of ALL 7.43 billion at the end of June 2021.
According to the BoA, compared to a year ago, the value of overdrafts increased by 0.8%.
Overdraft for individuals is usually an output linked to payroll accounts, in order to meet consumer needs.
This financial output over the years has been the largest bank loan service in terms of volume.
The reason, according to the Bank of Albania, is because there is no collateral for overdrafts and they are given mainly to individuals who receive their salary in the respective bank. Their annual interest amounts to over 10% for this type of loan in lek. /j.p/sm/
