Consumer loans amount to 28 mln euro in two months

Consumer loans have reached the value of about 28 million euros only for the first two months of the year.

According to Bank of Albania data, the banking system has disbursed in support of household consumption to ALL 3.6 billion new loans, about 6% more compared to the same period of the previous year.

If we calculate new overdrafts opened in the first two months of the year, the available household consumption amounted to about ALL 4.2 billion or EUR 32 million.

In recent years, banks have significantly released the supply of credit to individuals in order to better distribute risk to a portfolio that has historically been largely dominated by business loans.

Consumer credit growth was also favored by the drastic reduction in interest rates that, thanks to the stimulating monetary policy, have touched the lowest historical values.

For example, in February this year the average interest rate on new consumer loans in lek was less than 8%.

In addition, banks and other financial institutions are increasingly using third-party loan products through which interested customers can buy on credit at shops of electronic products, household appliances or other purchases in great value.

SCAN

*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.