Consumer loans rose by 12% in 2016
Consumer loan is one of the healthiest segments of lending in Albanian banking sector. According to the Bank of Albania, consumer loans in 2016 rose by 12% compared with a year ago.
The consumer loan portfolio of the banking system amounts to around 39 billion ALL, or nearly 285 million euro, without including overdrafts.
The growth of consumer loan is supported by the significant reduction of interest rates and the focus that banks have had on lending to households.
Values for consumer loans are relatively low and therefore the banks’ exposure to individual customers is relatively small. This enables a high diversification and distribution of credit risk.
Generally, these loans are given to costumers at the bank, which enables a better analysis and control of debtors.
The growth of consumer loans also reflects a demand obesity, thanks to the improvement of the real economy. Last year, private consumption in economy saw a significant improvement.
According to INSTAT, the first three quarters marked a final consumption of the population rising to 2.35%, thus contributing considerately to the growth of the national production.
One of the factors that has supported the growth of consumption have been the loans of the banking system.
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