How many loans do you receive from non-bank institutions? - Their weight in the financial system is increasing. BoA: About 39% of loans, for businesses
In addition to banks, which have had a positive performance in the first half of this year, the non-banking sector, which consists of non-bank financial institutions, insurance companies, savings and loan companies, pension and investment funds, has also recorded an increase in activity.
The insurance and investment markets have seen the greatest growth in activity. However, the non-banking sector is currently dominated by 39 non-bank financial institutions.
About 29% of non-bank financial institutions carry out lending activities, followed by services for providing guarantees and taking commitments with 19%, financial leasing with 11%, while payments, transfers and foreign exchange services with 8% each.
According to the Bank of Albania's Financial Stability Report, the total assets of non-bank financial institutions that provide loans increased by about 2 billion lek, reaching 77 billion lek. But which sectors have been most supported by them?
The construction sector, real estate activities and wholesale and retail trade are the most financed sectors with about 14%, 13% and 12% of the total credit stock for businesses, followed by other service activities with 11% of credit.
The main weight of credit is occupied by individuals with about 61% of total credit and the remaining part belongs to businesses.
The non-banking sector has increased its share of total financial system assets to 11% and its share of the country's GDP to 10%. Despite this, banks continue to dominate the financial system with almost 89% of total assets, followed by non-bank financial institutions with only 4%. In the first half of the year, the share of financial system assets to Gross Domestic Product (GDP) increased by 2 percentage points, to 95%.
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