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Big business accelerates credit growth. What did it affect?

2024-08-22 10:30:29Biznes SHKRUAR NGA REDAKSIA VOX

Big business accelerates credit growth. What did it affect?

The financing of businesses by banks has increased significantly in the first half of the year, reflecting the higher willingness of banks to finance the increased demand of businesses for credit. According to the most recent report of the Bank of Albania, during this period commercial banks have mainly lent to big business and the trade sector.

Credit to businesses grew by an average of 12%, marking a record over the past decade. Even during the first half of this year, the shift towards financing in Lek continued and the increase in credit for investment financing dominates.

Loans in lek for businesses continued to grow at a double-digit rate of 17.4%, while the developments of the second quarter showed the revival of loans in foreign currency. The latter recorded an improved growth rate peaking at 12% in June. The phenomenon of shifting the loan portfolio from euro to lek continued during this period, but at much lower levels than the one observed in 2023.

According to the size of the businesses, it was the credit for the big business that influenced the acceleration of the growth rates. Credit for this segment, after showing stagnation in the last two years, has shown a strong increase in bank financing in the first six months of the year.

It marked one of the highest growth levels of 18%, from 2% in the second half of 2023. According to the Bank of Albania, the annual expansion of large business credit reflects, among other things, the financing of infrastructure projects of to the government.

In parallel, the loan portfolio for small and medium-sized businesses grew by 6% during the first half of 2024, a rate slightly below the 7% growth recorded in 2023. Within this category, it appears that medium-sized businesses were those that have shown the most noticeable slowdown in credit to finance their needs.

 

 


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