TIRANA, March 9 /ATA/ Banks reduced the reserve fund, otherwise known as provisions, for non-performing loans which fall sharply last year.
The Bank of Albania reports that the total expenditures for provisions last year amounted to ALL 841 million or about EUR 6.9 million.
Compared to the corresponding period a year ago, the value of banks’ provisions for possible loan losses decreased by 89%.
The reduction of provisions is related to the performance of the non-performing loan ratio.
According to the Bank of Albania, at the end of September non-performing loans fell to 5.65%, the lowest level of non-performing loans recorded since 2008. /a.a/sm/
