Savings in lek increase 10 times more than those in euro/ In 10 months, bank deposits reached 5.9 trillion lek
The data of the Bank of Albania once again confirm an increase in savings in second level banks. Specifically, in October of this year, their value reached 1.336 trillion ALL from 1.333 trillion ALL in the previous month. The amount of total savings in October is estimated to be the highest this year.
"Scan Intel" has analyzed the figures to understand the trend of savings by currency. In the tenth month of this year, about ALL 604 billion were "set aside" by individuals and businesses. While the value of deposits in euros reached 7.5 billion.
But how have deposits in Lek and Euro changed within a year? Compared to the data of October last year, deposits in local currency have increased by 10.4%, while savings in foreign currency have undergone a minimal increase of 0.9%. While in absolute value, the trend of savings fluctuates in opposite directions. Specifically, it is estimated that savings in Euros decreased by 2.7 billion, while those in Lek increased by 56 billion.
Monetary statistics show that if we analyze them by category, businesses are the ones that have deposited the most money in financial institutions, thus contributing significantly to the total growth. In October alone, the latter saved more than 90 billion ALL.
During the 10-month period of this year, the months of February, March and April have marked the lowest level of deposits. However, in the following months there was a tendency of recovery, especially for savings in lek. From January to October of this year, a total of 5.9 trillion lek were deposited, thus reflecting an improvement in the financial situation for intermediary lending institutions. These data underline the increased confidence of citizens and businesses in the banking system and the financial stability of the country.
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