TIRANA, Oct 11 /ATA/ – The significant appreciation of Albania’s national currency, lek, against Europe’s single currency has shrunk value of the balance sheet of the country’s bank sector in the first half of 2022, central bank said on Tuesday.
According to Bank of Albania, one Euro was traded at 119.3 lek, down by 1.4% year-on-year in the end of June, whereas the European single currency was exchanged at 116.6 lek in the end of September, registering a decrease by 3.4% since start of the year
Lek’s appreciation in the second quarter of 2022 has incurred a negative statistical effect of exchange rate and the foreign exchange balance ratio of the banking sector with an estimated value of around 11 billion lek.
As far as the banking sector’s assets are concerned, appreciation of the national currency has had a greater impact on the main balance sheet areas such as treasury and interbank operations, with a negative effect of four billion lek and on operations with customers (loans), with a negative effect of five billion lek.
The statistical effect of the exchange rate is reflected in the counter value in lek of foreign currency deposits, with 12 billion lek less. According to the Bank of Albania, banking sector assets expanded by around 2% during the period and by 10% compared to a year ago.
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