TIRANA, Sept 6 /ATA/ Loans to households increased by 83% on an annual basis, the Bank of Albania announced in its recently published report on lending indicators.
According to the BoA, the main contribution to the growth of loans to households came precisely from mortgage.
During the first half of 2021, the banking sector in the country has disbursed 19 billion ALL, or about 155 million euros in new mortgage.
Low interest rates and the will of banks to finance in this segment prompted individuals to borrow to invest, mainly in housing and new business ventures.
Stimulating loans to households, according to banking experts, spurs consumption, which has a direct impact on the growth of the country’s economy.
Experts note that the banking system has continued to improve in the first half of this year. Credit is growing, driven especially by the segment of individuals and non-performing loans that are at an all-time low in 12 years, while the period profit for banks is the highest on record in the last decade. /a.a/sm/
