Tirana residents' savings "lose" pace! - BoA: Deposits, 0.5% less in the second quarter. Other regions fill the coffers
Even though Tirana is the region with the highest amount and historically the highest growth in bank savings, due to the larger population, it seems that Tirana residents are no longer able to put money aside to save.
According to the latest data from the Bank of Albania, deposits of citizens, businesses and some other items in Tirana fell by 0.5% in the second quarter, falling to 836 billion lek from 840 billion previously. This is the first time since the second quarter of 2023 that deposits in the capital have declined.
Even Vlora residents have had a hard time saving in the April-June period, as official statistics also show a slight contraction of 0.1% in deposits in the coastal city.
The savings situation is better in all other regions of the country, with a record growth of 2.1% in Durrës or in other words 124 billion lek deposits in total, followed by Fier with an increase of 2%. Thus, the people of Durrës and Fier have shown themselves to be less lax in terms of spending and more savers in the second quarter.
In other words, although Tirana has the highest value of deposits, it, along with Vlora, results in a decline in terms of growth rate, while other regions are increasingly filling the savings coffers.
But, do you know which of the regions prefers to save more in lek and which in foreign currency?
In Tirana, Durrës, Vlorë and Lezha, deposits in foreign currency exceed those in the national currency, while in other smaller areas of the country the lek continues to prevail. Thus, Elbasan, Shkodra, Fier, Korça and others have remained loyal to our currency.
Except in Lezha, Vlora, Shkodra and Tirana where foreign currency savings have been slightly decreasing, in all other regions they have increased.
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