How much do Albanians invest in bonds and notes? - AFSA: 30% fewer transactions in the primary market during the first half of the year
Deposits are increasingly seen as a safer investment of money than buying treasury bills and bonds. Figures show that investing in government securities is becoming less and less attractive for Albanians.
According to the Financial Supervisory Authority (AMF), in the first half of this year, 30% fewer transactions were carried out by individuals in the primary market of government securities, specifically 4,426 transactions from 6,347 in the same period a year ago. This decrease in the number of transactions has also translated into a decrease in the volume of money invested in treasury bills and government bonds by citizens.
On the other hand, around 14.5 billion lekë result from purchases by citizens in the primary market, i.e. direct purchases for the first time of government securities through auctions organized by the Bank of Albania. This represents a 20% decrease compared to the first half of last year, when total investments by individuals were 18 billion lekë.
Regarding the sale of securities between banks, funds and other individual investors, after they were initially purchased by the Bank of Albania and before the end of their term, 55.8% were transactions in long-term instruments (bonds) and 44% were transactions in short-term instruments (treasury bills).
In terms of the number of transactions, 73.70% of all transactions in this secondary market for government securities outside the stock exchange belong to those carried out in treasury bills. Participation in the secondary market for government securities outside the stock exchange for the period January-June 2025 is dominated by individual investors, who carry out 97% of all transactions in this market.
Citizens can invest in treasury bills and bonds by participating directly in the Bank of Albania auctions or by investing indirectly through investment funds, pension funds and other institutions authorized to invest in these instruments.

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