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Bad loans in have followed the downward trend, touching the lowest level in a decade. Bank of Albania data show that in November this indicator was 4.48%, decreasing further, from 4.6% that was in October and 5.07% that it was in November 2023. The total amount of non-performing loans during November is estimated at around ALL 36.4 billion
In order to stabilize inflation, the Bank of Albania has increased the basic political interest rate several times, which has a direct impact on the cost of loan installments from citizens. But fortunately, this has not affected the deterioration of the loan repayment balances taken from the banks.
The sustainability of the level of bad loans is a positive indicator for the economy, both in terms of the banking system and for citizens, reports "Abcnews".
Some elements that have influenced the decline in non-performing loans are the increase in the payment power of creditors as a result of rising wages, economic activity, and the write-off of bad loans.
The Central Bank has started the policy of reducing interest rates from 3.25% to 2.75%. This decision directly affects the relief of loan recipients as it reduces the amount that must be paid for installments by citizens or businesses.
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