DREAM / The Prime Minister resigns and wakes up under the Parisian bridge!

 Kliko këtu për të tjera
Voxpress:

Consumer credit is increasing, in the first three months of the year 9.1 billion ALL were received

2024-05-28 11:21:58Biznes SHKRUAR NGA REDAKSIA VOX

Consumer credit is increasing, in the first three months of the year 9.1 billion

Consumer credit has started the year 2024 with growth.

According to data from the Bank of Albania, for the first quarter of the year, new consumer loans granted by the banking sector reached the value of ALL 9.1 billion, an increase of almost 30% compared to the same period a year ago.

The total value of the consumer loan portfolio at the end of March was worth 72.2 billion ALL, with an annual increase of 17%.

The growth of consumer credit is a further indicator of a positive performance of lending to individuals, supported by the good trend of the economy and relatively low interest rates, compared to other economies.

Even according to the survey of lending activity, carried out by the Bank of Albania, the general conditions and terms for loans granted to individuals were somewhat eased only in consumer loans in the first quarter. The easing of credit terms and conditions was achieved thanks to the increase in the size of the loan and the extension of the loan maturity only in loans granted for the purpose of financing consumption. Even in the second quarter of 2024, banks expect the demand for loans to be high again, both in financing consumption and in the purchase of housing.

Bank of Albania analyzes have shown that consumer credit usually has a procyclical nature, given that it is a credit that supports consumption and follows its growth.

For this reason, the performance of consumer credit can be an indicator for the improvement of private consumption trends in the economy.

Based on INSTAT data, the average economic growth of private consumption of the population last year was about 2.7%. Consumption growth was lower than average GDP growth. Despite record numbers of foreign tourists, the impact of the tourism sector on overall consumption appears to have been limited. However, some analysts think that this can be partly related to the high degree of informality in the tourism sector.

Meanwhile, in the main segment of credit for individuals, the one that finances the purchase of housing, growth is continuing in the first half of this year. The figures show that for the first three months of the year, the banking sector disbursed a total of 13 billion new loans for housing purchases, an increase of 6.5% compared to a year ago.

In general, the statistics of the Bank of Albania are showing a rapid increase in lending to the economy during the first part of this year.

For the entire first quarter, the value of the new loan disbursed reached the value of ALL 82.8 billion, increasing by almost 30% compared to the first quarter of last year.

The main contribution to growth continues to be given by the loan in Lek, which for the first quarter of the year has almost doubled compared to the same period a year ago.


Në përputhje me standarded JTI

Video

SHIKO KANALIN NE YOUTUBE
×