Loans for the economy, Credins Bank reported growth also for the first quarter of 2020

Credins Bank has continued to increase lending in the first quarter of this year. According to periodic financial data, unaudited, published by the bank itself, at the end of March the loan portfolio, in net terms, reached the value of 108.2 billion ALL. Compared to the same period last year, the loan portfolio increased by 10%. As for the entire banking system, part of the growth has come from the temporary appreciation of the euro in the exchange rate with the Lek, at the end of March. This has increased the value of the portfolio in foreign currency, converted into Lek for reporting purposes.

Also, the bank reports a significant improvement in loans quality. Delayed loans, in value, have declined by almost 29% compared to last year.

Overall, the bank has continued to grow and its total assets have expanded by 16% on an annual basis. Credins Bank is currently the third largest bank in the country.

Increasing public deposits remains the main support for Credins Bank. At the end of March, total deposits reached the value of ALL 203 billion, 17% more than a year earlier.

SCAN

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