TIRANA, Dec 17 /ATA/ Lending in euro is growing significantly this year.
The Bank of Albania announces that the banking sector has provided EUR 715 million in new loans in the first 10 months of this year, marking an increase of 35% compared to the corresponding period a year ago.
According to the BoA, 47% of loans granted this year have a long-term maturity, with more than 5 years, which shows that the growth of EUR-denominated credit is being driven by lending to finance investments by both individuals and businesses.
Another reason for the growth in EUR-credit is the lower interest rates compared to ALL-denominated credit.
The Bank of Albania announces that foreign currency loans account for 49.9% of the total loan portfolio. /j.p/sm/
