Albania’s banking system performed better in the first semester 2017: BoA
Developments in the banking sector during the first half of 2017 highlighted a significant improvement in lending quality and showed the importance of continuing this process.
This is the assessment that the highest financial institution in the country, the Bank of Albania, made for the banking sector in its Financial Stability Report statement for the first semester 2017.
“The performance of macroeconomic indicators and developments in the overall economic environment supported better the financial system’s operations. In the banking sector, indicators of financial performance, capitalization and liquidity of the activity generally improved. However, the analysis of determining factors and resistance testing suggests the need to monitor the performance of these indicators over time,” the BoA statement states.
The Supervisory Council also approved a regulation that sets out the requirements on the procedures and timelines for reporting interest rate statistics to the Bank of Albania from the reporting entities.
This Regulation enables the compilation of interest rate statistics in accordance with European standards.
Currently, the Bank of Albania collects, drafts and publishes interest rate statistics applied by banks for new amounts of deposits and loans according to time limits for individuals and non-financial corporations, but the new regulation aims to increase the range of these statistics.
The Financial Stability Report is one of the most important periodicals prepared by the Bank of Albania with the main purpose of identifying and assessing the risks faced by the financial system and its infrastructure.
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