Credit to the economy, with growth in November/ The total reached 824.4 billion ALL, or 1.5% more than in October
In recent months, the Albanian economy has experienced a significant increase in total credit, reflecting a stable development and increased confidence in the financial sector. According to the latest data from the "Bank of Albania", total loans reached 824.4 billion ALL in November 2024, with a significant increase of 14.1%, compared to November of last year, and an increase of 1.5% compared to October of the same year.
So, if we talk in absolute numbers, it turns out that in the time frame of one month, the loan has increased by 11.7 billion ALL, while in the time frame of one year, it registers an increase of 102 billion ALL.
In annual terms, this increase is mainly attributed to the expansion of lending to "Other financial corporations". On the other hand, business loans have also seen a significant increase over the course of a year. From ALL 405 billion in November last year, it has increased by about ALL 58 billion in November of this year, reaching about ALL 464.2 billion. The growth during one year is estimated at 14.4%.
This increase was mainly supported by an increase in foreign currency loans, which reached 249.3 billion ALL, from 194 billion ALL. In one year, the loan in foreign currency increased by 18.1%, while the loan in Lek increased by 10.3%.
Even if we refer to the one-month period, business credit increased by about 1.4%, where it seems that foreign currency credit has led the growth.
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