credit – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Tue, 14 May 2024 13:34:50 +0000 en-US hourly 1 Mete: Plan to increase credit limits, support for economy needs https://en.ata.gov.al/2024/05/13/mete-plan-to-increase-credit-limits-support-for-economy-needs/ https://en.ata.gov.al/2024/05/13/mete-plan-to-increase-credit-limits-support-for-economy-needs/#respond Mon, 13 May 2024 18:25:10 +0000 https://en.ata.gov.al/?p=234609 TIRANA, May 13/ATA/ Minister of Finance Ervin Mete stated today that Albania is in a favorable position to meet the ambition of expanding access to finance and to strengthen the role of the banking sector in the development of the private sector in the country.

During the speech held at the 25th anniversary of the Albanian Association of Banks, Mete said that now there is required a greater commitment of the banking sector in terms of lending and supporting the economy, while he said that therefore the Ministry of Finance is discussing a plan jointly with the Bank of Albania.

“There are 4 directions that require the advancement of our joint efforts and a wider involvement of the banking sector. First, this sector should be even more active in terms of lending and further supporting the development of the economy. Second, special attention should be paid to the most efficient allocation of funds, to the most productive sectors of the economy. Thirdly, in parallel with the increase in lending and the improvement of the allocation of funds, more must be done in terms of increasing the financial inclusion of the population. And last, but not least, innovation, digitization and further modernization of services; as we live in the World of Fintech and artificial intelligence, must remain a priority of the banking sector,” said Finance Minister Mete.

The minister emphasized that the banking system in Albania has made considerable progress in recent years. An expression of this consolidation has been the successful coping with the successive shocks of recent years, with the earthquake, the pandemic and recently the effects of geopolitical developments and inflationary situations.

Minister Mete also said that the Growth Plan, approved by the European Council and which is expected to begin implementation through an ambitious reform plan, will serve as an impetus for accelerating the integration process, bringing to the countries of the region some of the benefits of membership before entering the EU, as is the case of Albania’s possible membership in the Single Euro Payments Area, with significant benefits and a reduction in the costs of banking transactions./p.s./

 

]]> https://en.ata.gov.al/2024/05/13/mete-plan-to-increase-credit-limits-support-for-economy-needs/feed/ 0 PM Rama: Sovereign guarantee for farmers, time of subventions without any criteria is over https://en.ata.gov.al/2022/01/26/pm-rama-sovereign-guarantee-for-farmers-time-of-subventions-without-any-criteria-is-over/ https://en.ata.gov.al/2022/01/26/pm-rama-sovereign-guarantee-for-farmers-time-of-subventions-without-any-criteria-is-over/#respond Wed, 26 Jan 2022 20:36:21 +0000 http://en.ata.gov.al/?p=171415 TIRANA, January 26/ATA/ Prime Minister Edi Rama stated today that, “Everyone should be aware that the time of a surviving agriculture or subsidy agriculture without any criteria has passed”.

In the activity held at the Ministry of Agriculture and Rural Development for the sovereign guarantee fund available to farmers to finance the collateral of agricultural loans, part of the support package of 4 billion Lekë, PM Rama said that, “Today, it is very important that we are here together, not only from the government, but also from our partners, a significant message is given to the entire agricultural sector and all actors engaged in rural development, regarding the new opportunity that has been created since 2016 ”.

PM Rama said that with this other intervention of the Albanian government to guarantee the loans of farmers, or agricultural enterprises, it is insisted on the message that, “it is time every day those who are engaged in agricultural production to think with their eyes toward the future and not see the past ”.

“Together with the EBRD we allocated 180 million Euros to help vital sectors such as agriculture and tourism, facilitating their financing. And this mechanism practically paved the way for an access to finance for the agro-business sector through a line of credit and the possibility of sharing portfolio risk for financial and banking institutions”, stressed Rama.

“What we have before our eyes today is not a reason to be completely satisfied, but it is a reason to be fully convinced that this is the way,” Rama added.

The head of government underlined that, “There are 6 thousand beneficiaries of the guarantee fund. And there are 72 million Euros disbursed from this fund. A considerable part of the fund is still available. Just as the Albanian government makes available another sovereign guarantee fund to enable the continuation of this path and to enable the increase of credit to agriculture.”/p.s./

 

]]> https://en.ata.gov.al/2022/01/26/pm-rama-sovereign-guarantee-for-farmers-time-of-subventions-without-any-criteria-is-over/feed/ 0 Bank credit surplus reach about ALL 630 billion at end of first half of 2021 https://en.ata.gov.al/2021/10/14/bank-credit-surplus-reach-about-all-630-billion-at-end-of-first-half-of-2021/ https://en.ata.gov.al/2021/10/14/bank-credit-surplus-reach-about-all-630-billion-at-end-of-first-half-of-2021/#respond Thu, 14 Oct 2021 15:09:18 +0000 http://en.ata.gov.al/?p=163365 TIRANA, Oct. 14/ATA/ At the end of the first half of 2021, the bank credit surplus reached about ALL 630 billion, showing an increase of 3% during this period and 6% compared to a year earlier.

The Bank of Albania-BoA announced today that, the main impact on the expansion of the credit stock during this period was made by the rescheduling of loan payments in response to the easing measures of the Bank of Albania and the inflow of new loans reduced if compared to the previous six months.

Particularly good performance was recorded in the portfolio of long-term loans, loans in local currency and loans to businesses.

During this period, loans in foreign currency increased by 2%, but its share in total loans decreased compared to previous periods. According to the residency, the credit growth has been entirely influenced by the credit growth for resident entities, accounting for almost 96% of the credit balance. //a.i/

]]> https://en.ata.gov.al/2021/10/14/bank-credit-surplus-reach-about-all-630-billion-at-end-of-first-half-of-2021/feed/ 0 Lek-denominated loans portfolio accounts for 52.6 % https://en.ata.gov.al/2021/10/13/lek-denominated-loans-portfolio-accounts-for-52-6/ https://en.ata.gov.al/2021/10/13/lek-denominated-loans-portfolio-accounts-for-52-6/#respond Wed, 13 Oct 2021 16:30:29 +0000 http://en.ata.gov.al/?p=163280 TIRANA, Oct.13/ATA/The expansion of credit by the banking system has been supported by loans in Albanian Lek.

The Bank of Albania announced on Wednesday that, the loans in Albanian Lek increased by 9% at the end of August of this year.

According to the BoA, Lek-denominated loans portfolio accounted for 52.6 %, up from 51.4% a year earlier.

The expansion of lending activity in the local currency was supported by easing monetary conditions, as well as a more prudent approach to the exchange rate – mainly related to household credit. //a.i/

]]> https://en.ata.gov.al/2021/10/13/lek-denominated-loans-portfolio-accounts-for-52-6/feed/ 0 Credit for real estate purchase amounted to ALL 29.5 billion, BoA says https://en.ata.gov.al/2021/09/03/credit-for-real-estate-purchase-amounted-to-all-29-5-billion-boa-says/ https://en.ata.gov.al/2021/09/03/credit-for-real-estate-purchase-amounted-to-all-29-5-billion-boa-says/#respond Fri, 03 Sep 2021 07:41:35 +0000 http://en.ata.gov.al/?p=159611 TIRANA, Sept. 3/ATA/ The Bank of Albania (BoA) announced on Friday that, in the 7-month period 2021, the new credit for a real estate purchase reached ALL 29.5 billion.
According to the BoA, in 2021 loans for the real estate purchase of increased by 5.7% compared to a year earlier.
New loans for real estate to businesses in the first 7 months of this year amounted to ALL 16.2 billion, or 32% higher than last year.
Experts say that, the public investments, especially those related to the reconstruction program, after the earthquake of November 2019 as well as investments in infrastructure and other works have has a major impact. //a.i/

]]> https://en.ata.gov.al/2021/09/03/credit-for-real-estate-purchase-amounted-to-all-29-5-billion-boa-says/feed/ 0 Sejko: Credit for Deposit Insurance Agency, an added security mechanism https://en.ata.gov.al/2021/06/11/sejko-credit-for-deposit-insurance-agency-an-added-security-mechanism/ https://en.ata.gov.al/2021/06/11/sejko-credit-for-deposit-insurance-agency-an-added-security-mechanism/#respond Fri, 11 Jun 2021 19:40:30 +0000 http://en.ata.gov.al/?p=151203 TIRANA, June 11/ATA/ The Governor of the Bank of Albania Gent Sejko welcomed the agreement signed by the European Bank for Reconstruction and Development (EBRD) with the Deposit Insurance Agency (ASD), for the provision of a credit line of 100 million Euros, which will affect improvement of stability of the banking sector in the country and the security of customers.

The governor said that the Albanian financial system is liquid and well-capitalized, however increasing the capacity of insurance schemes is an added value, allowing increasing the level of protection of depositors. He assessed this line of credit as an added security mechanism for the financial and banking system in the country.

Governor Sejko expressed thanks to the EBRD for the important contribution and concrete support with financial investments in key areas of our country’s economy and invited it to continue to evaluate the potentials that Albania offers, according to a press release.

ASD was established in 2002 as an independent public institution. Its mission is to protect individual depositors and pay for secured deposits in the event of bank failure, with a comprehensive objective to increase the stability of the banking and financial system in Albania.

The EBRD has supported the institution with funding and technical assistance for the first time in 2013. It is a leading institutional investor, with over 1.5 billion Euros invested in 112 projects in our country.

The loan fully guaranteed by the Albanian Government will provide the necessary liquidity to address the potential consequences of the COVID-19 pandemic on the economy. Funds will be available, if the need arises, to compensate depositors secured by ASD and to maintain the confidence of clients of private and commercial banks. /j.p/p.s./

 

]]> https://en.ata.gov.al/2021/06/11/sejko-credit-for-deposit-insurance-agency-an-added-security-mechanism/feed/ 0 Credit to economy increased by ALL 16.9 billion in April 2021 https://en.ata.gov.al/2021/05/28/credit-to-economy-increased-by-all-16-9-billion-in-april-2021/ https://en.ata.gov.al/2021/05/28/credit-to-economy-increased-by-all-16-9-billion-in-april-2021/#respond Fri, 28 May 2021 13:50:10 +0000 http://en.ata.gov.al/?p=148859 TIRANA, May 28/ATA/- Commercial banks in Albania provided ALL 16.9 billion in new loans to the economy during April 2021.

The Bank of Albania (BoA) announced on Friday that, the credit performance to the economy is positive and estimated as a portfolio surplus, which at the end of April reached a total of ALL 615.3 billion.

The loan portfolio increased by ALL 4.5 billion compared to March, while on an annual basis it marked an increase of 6.4%.

According to the BoA, the growing indicators of credit to the economy are positive signals of economic recovery and employment. //a.i/

]]> https://en.ata.gov.al/2021/05/28/credit-to-economy-increased-by-all-16-9-billion-in-april-2021/feed/ 0 Following opening of economy, consumer credit is back to growing trend https://en.ata.gov.al/2021/05/18/following-opening-of-economy-consumer-credit-is-back-to-growing-trend/ https://en.ata.gov.al/2021/05/18/following-opening-of-economy-consumer-credit-is-back-to-growing-trend/#respond Tue, 18 May 2021 09:25:20 +0000 http://en.ata.gov.al/?p=147154 TIRANA, May 18/ATA/ Following opening of economy, the consumer credit is back to the growth trend.

For the first time after six consecutive quarters, the demand for consumer credit increased in the first quarter of the current year.

The Central Bank also said that the credit standards have eased.

The consumer credit consists of less than 30% of credit got by the individuals.

The portfolio is dominated mainly by credit in Lek which reflects greater increase of consumer credit in the local currency, in line with the daily needs for consumption.

The interest rates for credit in Lek for the individuals remain in low levels like those for financing of consumption and the mortgage credits.

The average interest rate for credits in Lek for the individuals was 6.5% in the first quarter of the year, a slight increase from 6.3% it was in the previous two quarters. In this context, the interest rate of consumer credits remained almost unchanged at 8.4%. /j.p/p.s./

]]> https://en.ata.gov.al/2021/05/18/following-opening-of-economy-consumer-credit-is-back-to-growing-trend/feed/ 0 BoA: Credit to private sector increased by 7.5% in first quarter of 2021 https://en.ata.gov.al/2021/05/06/boa-credit-to-private-sector-increased-by-7-5-in-first-quarter-of-2021/ https://en.ata.gov.al/2021/05/06/boa-credit-to-private-sector-increased-by-7-5-in-first-quarter-of-2021/#respond Thu, 06 May 2021 08:23:45 +0000 http://en.ata.gov.al/?p=145442 TIRANA, May 6/ATA/- Credit to the private sector experienced an average annual growth of 7.5% in the first quarter of 2021, the Bank of Albania (BoA) reported on Thursday.

According to the BoA, this increase showed a broad base, driven by the expansion of lending to both households and businesses. In this context, it is worth noting that the growth of loans for investment purposes is an encouraging development for future economic growth.

The progressive expansion of the weight of the loans in Albanian lek, an indicator which marked an increase of 52% of the total in March, provides positive signals in terms of increasing the effectiveness of monetary policy and financial stability.

The baseline forecast scenario projects a sustainable economic recovery during 2021 and 2022, after the contraction experienced in 2020. //a.i/

]]> https://en.ata.gov.al/2021/05/06/boa-credit-to-private-sector-increased-by-7-5-in-first-quarter-of-2021/feed/ 0 BoA: In 2020 loans in US dollar occupied 4% of total https://en.ata.gov.al/2021/03/08/boa-in-2020-loans-in-us-dollar-occupied-4-of-total/ https://en.ata.gov.al/2021/03/08/boa-in-2020-loans-in-us-dollar-occupied-4-of-total/#respond Mon, 08 Mar 2021 22:11:11 +0000 http://en.ata.gov.al/?p=136169 TIRANA, March 8/ATA/- The Bank of Albania (BoA) reported on Monday that, the new credit to the economy in the US dollar, occupied 4% of the total loans during 2020.

According to the BoA, in 2020 the new credit in US dollar is estimated at 92 million dollars, marking a decrease of 34% compared to 2019.

In the early 2000s, the euro gradually replaced the dollar as the most widely used foreign currency in the Albanian economy, while the loan is increasingly oriented towards the local currency Lek.

Bank of Albania official data show that, at the end of 2020, loans in Albanian Lek accounted for 50% of the total loan portfolio. While loans in euros accounted for about 46%. //a.i/

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