Consusmer lending increased by 9% during 2018
Consumer lending is growing at satisfactory rates during 2017. According to the Bank of Albania, consumer lending at the end of August increased by 9% since the beginning of the year.
The portfolio of consumer credit granted by the banking system amounts to approximately ALL 51 billion, or about EUR 380 million, including overdrafts.
The growth of consumer lending has been supported by significant interest rate cutbacks and an easing of lending conditions.
According to the Bank of Albania, the average interest rate of lending for consumer purchases in Lek was 7.8%, while for the purchase of durable goods the interest rate was 7.5%.
These values are in decline compared to the end of last year, while the decline is even deeper compared to previous years, when the consumer lending interest raste had double-digit levels.
Consumer lending values are relatively low and the exposure of the bank to individual customers is on average lower. This enables a high spread of credit risk.
Generally, these loans are given to clients who receive their salaries in banks, which enables a good analysis and control of debtors.
Consumer credit is supporting the growth in demand in the economy, at a time when the consumer component is still fragile.
According to INSTAT, for the first two quarters of the year the final consumption of the population increased by an average of 2.1%, which is about half the average growth.
*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.