The Albanian economy has received more support from second-tier banks in recent months.
The Bank of Albania's data shows that since April the lending to the economy has seen a growth and 15 billion lekë more have been given -- reaching 561 billion lekë during the month August.
This situation has changed after a period of stagnation over the past year. Statistics show that there has been an increase in lending both to businesses and to individuals.
The loan stock for individuals has increased by about 5% if compared to the previous year and this loan is mainly concentrated on house purchasing loans.
Meanwhile, for the businesses, the lending of the second-tier banks has had a lower increase and the focus has been on large businesses.
An interesting detail is the fact that individuals prefer to lend in local currency to avoid the effects of the exchange rate and in this regard if we compare it to a year ago, the growth goes to 7%.
On the other hand, businesses continue to prefer euro-denominated loans despite the pronounced fluctuation of the exchange rate for this currency.
During 2018, lending fell by about 3% but according to the Bank of Albania this was also affected by the deletion of credit and bad credit balances.
The Bank of Albania data shows that during August there was an increase of about 10 billion lekë in individual deposits as well.