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The loan portfolio increases in Lek, 10 percent in September

2023-11-10 11:07:00Biznes SHKRUAR NGA REDAKSIA VOX

The loan portfolio increases in Lek, 10 percent in September

The appreciation of the local currency seems to have led to an increase in the loan portfolio in Lek. According to the data of the Bank of Albania in the third quarter of this year, the performance of the loan portfolio according to currencies indicates a rapid growth of loans in Lek, which peaked at 10% in September.

The Bank of Albania informs that, at the same time, the growth rates of foreign currency loans decreased significantly to 2.0%.

"The third quarter was characterized by the shift of the portfolio towards lending in Lek, helped by the rapid narrowing of the difference between the interest rates of loans in Lek versus that in foreign currency, as well as by the appreciation of the local currency against the euro. The detailed analysis of the loan portfolio shows that this shift has been present both in the segment of businesses and individuals. As a result of these developments, the ratio of loans in Lek to the total increased to 55%, resulting in 4 percentage points higher than at the end of 2022", states the BSH.

Unlike businesses, bank financing for individuals continued at the same rates as in the first half of the year. The annual growth rate of this portfolio with 12.5% ​​is close to the average of the second quarter.

According to the sub-segments, it is noted that the consumer loan showed improvement in growth to 10% during this quarter, compensating for the slowdown in mortgage loan growth rates to 13%.

The latter was also affected by the problems in the system that appeared when the mortgages went digital. However, data from the Lending Activity Survey show that demand for housing purchases continues to be high and banks have eased some conditions for this segment in response to increased competition.


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