Insurable deposits, 1.5 trillion lek - ASD annual report/ Nearly 93% of savings in banks are fully compensated
As the number of deposits increased, so did their insurance by the Deposit Insurance Agency. Total savings in the banking system at the end of 2024 were 1.6 trillion lek.
According to the annual report of the Deposit Insurance Agency (ASD), the value of insurable deposits, i.e. the aggregate value of all deposits of individuals and businesses that benefit from the deposit insurance scheme, reached 1.5 trillion lekë, representing 94.5% of total deposits. Compared to a year earlier, the increase was 5.2%, while in absolute value 78.9 billion lekë.
During 2024, ASD insured the savings of individuals and businesses in 11 banks and 9 savings and loan associations.
Insured deposits in the banking system were 54.7% of the total in the banking system and 57.9% of insurable deposits. Nearly 93% of bank depositors are fully compensated. The ASD's liability for compensation in 2024 was 921 billion lek.
On the other hand, the total deposits in savings and loan associations for the past year were 11.5 billion lek. Insurable deposits are 11.3 billion lek and account for 98.4% of total deposits. These funds, which have an annual growth of 4.8%, correspond to 44,270 individual and business clients.
Insured deposits, i.e. the portion of an individual's insurable deposit, but in any case not more than 2,500,000 lek, in savings and loan associations are 8.1 billion lek, or 70% of total deposits, or 71% of insurable deposits. About 91% of depositors in savings and loan associations are fully compensated.
In the event of a bank bankruptcy, the ASD compensates an individual or business with a certain amount for the deposit and interest they had in that bank.
The ASD ensures the full repayment of depositor funds at any bank or savings and loan association, regardless of the number and amount of deposits, up to the amount of 2,500,000 lek in the event that the Bank of Albania revokes the license of a bank, and up to the amount of 2,000,000 lek in the event that the Bank of Albania revokes the license of a savings and loan association.
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