TIRANA, Sept 1 /ATA/ – The Supervisory Council of the Bank of Albania on Wednesday reviewed and approved the statement and the Financial Stability report for the first half of 2021.
Albania’s central bank noted that the country’s banking system grew steadily that in the first six months of this year, with the bank deposits and loans increasing, credit quality significantly improving and other financial sustainability indicators remaining at appropriate levels.
The overall banking sector’s exposure to risks was controlled.
“The improved health situation supported a rapid recovery of economic activity. The experience during this period shows that the acceleration of the vaccination campaign is key to alleviating the uncertainties that the pandemic still poses to future economic and financial developments. At the same time, these uncertainties highlight the need for economic, financial and prudential policies to maintain the elements of flexibility,” the Bank of Albania said.
The central bank’s report shows that the non-performing loans ratio has dropped by 1 percentage point to 7.12% and to 7.05% in July.
The Financial Stability Report is one of the important periodic documents prepared by the Bank of Albania, with the main purpose of identifying and assessing the risks facing the financial system and its infrastructure.
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