Savings inequality, who has the money? Around 5% of Albanians are 18 times richer than the rest
At the end of 2024, the value of insurable deposits benefiting from the deposit insurance scheme reached 1.59 trillion lek, representing 94.5% of total deposits. Compared to the previous year, these deposits increased by 5.2%, while the increase in absolute value is 78.9 billion lek.
Meanwhile, the Deposit Insurance Agency figures also show the division of deposits according to their value, under 100 lek, from 100 lek to 2.5 million lek, as well as over 2.5 million lek, i.e. above the agency's coverage. The richest individuals in the country, i.e. those with deposits over 2.5 million lek, count 125,875 accounts in total, while those with an amount ranging from 100 lek to 2.5 million lek are a full 1,711,695. In total, there are about 2.78 million deposits.
But the real contrast emerges when we look at these figures in terms of value.
The amount of deposits over 2.5 million lek during the past year is fixed at 739.5 billion lek, thus accounting for 58% of the total, while the amount of deposits between 100-2.5 million lek is fixed at 535.9 billion lek, thus accounting for 42% of the total deposits of individuals in the banking sector in our country.
At the end of 2024, deposits with amounts up to 2.5 million lekë recorded an annual increase of 5.2%. Meanwhile, deposits with amounts above the coverage level, compared to the end of 2023, have increased in absolute value by about 41 billion lekë, or 5.9%, contributing to the annual increase of 5.6% in insurable deposits of individuals.
The figures show that 5% of individuals' deposits in our country represent more than half of individuals' money in banks, or more precisely, 58%. "Scan Intel" has conducted a different analysis to see more clearly the extent of inequality. Around 125,875 bank accounts representing the richest 5% of Albanians own a total of 739.5 billion lek, which translates into an average of 5.87 million lek per account.
Meanwhile, the rest with amounts from 100 lek to 2.5 million lek hold a total of 535.9 billion lek, or an average of only 313 thousand lek per account. This means that each individual from the richest 5% has on average 18 times more money in the bank than the rest.
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