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Home loans, figures from individuals hit record/ Businesses less "thirsty" for loans in February this year
2025-03-28 20:31:34 / EKONOMI&SOCIALE
The new credit granted by the banking sector during February of this year is set at 28.7 billion lek, show the latest data from the "Bank of Albania". Compared to the same period a year ago, when new credits were set at 29.3 billion lek, the decline is estimated at close to 2.1%. On the other hand, compared to the February months of previous years, the figures signal that this year this value is the second highest.
What is noticeable from the data is the fact that the private sector had the greatest impact on the decline in new credit for February.
New loans to the private sector are set at 17.8 billion lek, down from 21.4 billion lek in February last year. The decline is set at 17%. It is worth noting that compared to the same month in previous years, February of this year is significantly higher, regardless of the value of 2024.
As for individuals, new loans in February of this year reached an all-time high of 10.6 billion lek, up from 8 billion lek in the same period a year ago. The growth for this indicator is set at around 32.9%. For this indicator, the current year records a record since 2016.
Meanwhile, if we refer to new loans for individuals for home purchases, we are once again faced with a record figure of 5.62 billion lek. The increase is significant at 34.4%, from 4.13 billion lek in February 2024.
So under these conditions, we can say that the increase in consumer confidence in economic stability may have encouraged individuals to take out loans for consumption and investment in real estate. Recently, a significant increase in loans has been observed, especially for home purchases.
The Albanian economy has also experienced a significant increase in total credit, reflecting sustainable development and increased confidence in the financial sector. According to the latest data from the “Bank of Albania”, total credit to the economy reached 847.5 billion lek in the first half of this year./ SCAN
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