consumer credit – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Mon, 05 Jul 2021 16:20:22 +0000 en-US hourly 1 Consumer credit increased to ALL 11 billion in 5-month period of 2021 https://en.ata.gov.al/2021/07/05/consumer-credit-increased-to-all-11-billion-in-5-month-period-of-2021/ https://en.ata.gov.al/2021/07/05/consumer-credit-increased-to-all-11-billion-in-5-month-period-of-2021/#respond Mon, 05 Jul 2021 16:20:22 +0000 http://en.ata.gov.al/?p=154597 TIRANA, July 5/ATA/ Consumer credit, a very important instrument to boost consumption in the economy, is growing rapidly in the first half of this year, the Bank of Albania-BoA reported on Monday.

According to the Bank of Albania in May of 2021, the banking sector provided about ALL 2.5 billion in consumer loans, or 2.5 times more compared to the same period last year.

New credit for consumption purposes increased to ALL 11 billion during the first 5 months of 2021, or an increase of 43% compared to the first 5 months of 2020.

According to the official data of the Bank of Albania, the total consumer loan portfolio at the end of May of 2021 reached ALL 53 billion. //a.i/

]]> https://en.ata.gov.al/2021/07/05/consumer-credit-increased-to-all-11-billion-in-5-month-period-of-2021/feed/ 0 Consumer credit growth 7.4%, higher than average pre-COVID-19 loan flows https://en.ata.gov.al/2021/05/11/consumer-credit-growth-7-4-higher-than-average-pre-covid-19-loan-flows/ https://en.ata.gov.al/2021/05/11/consumer-credit-growth-7-4-higher-than-average-pre-covid-19-loan-flows/#respond Tue, 11 May 2021 13:54:10 +0000 http://en.ata.gov.al/?p=146245 TIRANA, May 11/ATA/- The Bank of Albania (BoA) announced on Tuesday that the rapid resurgence of consumer credit has affected the partial amortization of the consequences of the pandemic crisis, on the performance of private consumption.

In the last quarter of 2020, new consumer credit increased by 7.4%, a higher level compared to the average pre-COVID-19 loan flows.

At the end of December 2020, consumer loans accounted for about 10.9% of lending to the non-financial private sector and only 4.1% of assets in the balance sheet of sector banks.

According to the Bank of Albania, the demand for consumer financing is expected to increase during 2021. The environment with low interest rates will continue to represent a potential for further growth of consumer credit in the future. //a.i/

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