Banking system withstood Pandemic stress – Sejko: Positive indicators, 23,000 families and businesses benefited financially

The Albanian banking system has successfully withstood the strong stress caused by the Pandemic during 2020, managing to contribute significantly to easing the financial burden of the crisis on citizens and businesses, as well as maintaining a secure and stable economic and financial environment.

The Governor of the Bank of Albania, Gent Sejko, reported on Tuesday to the Parliamentary Committee on Economy, emphasizing that the interventions undertaken in this sector calmed the markets, while the indicators of asset quality, financial result and capital of the banking sector are presented at good levels. . Meanwhile, the ratio of non-performing loans has remained low and the direct exposure of its activity to market risks remains under control.

Sejko also spoke about the increased risk of money laundering in the country, defining the banking system as a leader in this regard.

According to the Bank of Albania, the role of banks remains essential, both during the current phase of pandemic control and during the future phase of economic recovery.

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