Euro gains ground in lending in March/ The European currency dominates business loans, the lek remains for individuals
According to data from the “Bank of Albania”, new loans by currency show a noticeable shift towards the euro in March, despite the strengthening of the lek and the significant decline of the European currency in the exchange rate. In total, the banking system disbursed 39.99 billion lek in new loans, up from 36.2 billion lek in March last year.
New loans in lek continued to hold the main share, but their growth was limited. In March 2026, loans in local currency reached about 24 billion lek, from 23.3 billion lek a year earlier, with an increase of about 2.9%. The weight of lek in total new loans decreased to about 60%, from over 64% in March 2025.
In contrast, loans in euros grew at a much stronger pace. New loans in the European currency reached around 15.97 billion lek, up from 12.55 billion lek in the same month last year, marking an increase of around 27.3%. As a result, the share of euros in total new loans rose to close to 40%, up from around 35% a year earlier.
The growth in euro credit has been mainly supported by private businesses. In March, private non-financial corporations received 13.95 billion lek of new euro credit, more than the credit received in lek, which was 13.27 billion lek.
This behavior is related not only to foreign currency income, but also to the more favorable interest rates usually offered for loans in euros.
The situation is different for individuals. For this category, loans in lek remain dominant and their growth is more stable. Individuals continue to avoid exposure to the exchange rate, especially after previous experiences with euro fluctuations, preferring financing in the currency in which they have their income.
At the same time, lending in dollars remains almost negligible and declining, confirming that the lending market in Albania is practically concentrated between the lek and the euro.
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