The trade sector "absorbs" more credit - BoA: The increase in lending was also supported by businesses in industry, construction and services
Trade remains the sector that has made the largest contribution to the growth of credit to businesses during the first half of the year. It has contributed 6.1 percentage points to the total growth, while credit to this sector now accounts for 46.2% of the credit portfolio to businesses.
After trade, the highest contribution was made by industry, supported mainly by investment financing, including those in the energy sector. Construction contributed 1.4 percentage points and accounts for 21.7% of the credit structure, while the share of services increased to 16.1%. On the other hand, agriculture had a minimal contribution and accounts for 1.3% of credit to businesses.
In total, credit to businesses grew by 11.6% in annual terms in the first half of 2026. Although the pace is lower than the peak recorded at the end of 2024, it indicates a steady expansion of financing, after the sharp slowdown in 2023.
Large businesses remain the main contributor to this growth. But medium and small businesses also play an important role, with contributions of 4 and 1.6 points respectively, which shows that credit is being distributed to a wide range of enterprises.
Meanwhile, interest rates have remained generally stable. For new loans in lek, the average interest rate was 6.4%, almost at the same level as last year. For loans in euro, the interest rate marked a minimal increase and reached around 6%.
Lending conditions have also remained broadly unchanged, with some slight easing for certain business categories. Overall, the combination of credit growth and relatively low interest rates indicates that financing conditions for businesses remain accommodative.
A similar trend is observed in the countries of the region, where credit to businesses continues to grow at double-digit rates, although a slight slowdown has been noted in some countries.
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