BoA for the banking sector: “It gave a very positive and useful contribution during the crisis”
“The banking sector made a very positive and useful contribution during the crisis, continuing lending and undertaking to pay part of the financial bill, through the process of deferring the loan installments and through its restructuring. Maintaining a pro-active approach to lending is an important precondition to provide the necessary financial support for the recovery of the economy “- underlines the Bank of Albania in the annual report for 2020.
“Financial markets have functioned normally, enabling a good transmission of monetary stimulus to the economy. The BoA’s timely response helped reduce uncertainties, control liquidity risk premiums and lower interest rates. The eased financial conditions, together with the supportive lending policies of the BoA and the Government, contributed to the increase of private sector financing. Credit expansion was also supported by the good performance of bank deposits and liquidity injection operations by the Bank of Albania.
“Lending activity has increased in all segments, but it has mainly supported businesses in their investment goals” – the institution continues. Even in terms of interest rates, the Bank of Albania underlines that they have fluctuated close to the key rate and have shown low volatility, in line with the operational objective of monetary policy
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