BoA. deposits – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Mon, 05 Feb 2024 17:06:06 +0000 en-US hourly 1 BoA: Euro-denominated bank deposits edge up 15.5% year-on-year in 2023 https://en.ata.gov.al/2024/02/05/boa-euro-denominated-bank-deposits-edge-up-15-5-year-on-year-in-2023/ https://en.ata.gov.al/2024/02/05/boa-euro-denominated-bank-deposits-edge-up-15-5-year-on-year-in-2023/#respond Mon, 05 Feb 2024 17:06:06 +0000 https://en.ata.gov.al/?p=226696 TIRANA, Feb 5 /ATA/ -The euro-denominated deposits in Albania’s banking system rose 15.5% year-on-year to around 7.3 billion euros in December 2023, according to data from central bank.

Bank savings account grew by around 16 million euros in November and by around 112 million euros in December 2023.

According to the Bank of Albania, the euro-denominated bank deposits increased by 15.5% in 2023 or around 920 million euros more than in 2022.

The euro-denominated deposits recorded strong growth in July and August thanks to the increased remittances as Albanian emigrants return back home to spend holidays with their families during this period.

The Euro-denominated bank deposits in July and August increased by 130 million euros and 286 million euros respectively.

Other factors driving growth in foreign currency-denominated deposits include also the tourism season, the improved economic activity and the growing public investments that have helped businesses to increase their liquidity capabilities.

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