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Albania, doubtful loans increased 127%
Tirana, 04 Sep. (AENews) – Under standard loans have more then doubled in the first half 2006 in Albania, Bank of Albania (BoA) announced in its periodical report for Financial Stability.
The ratio between under standard loans and total loans portfolio reached 1.89% in June 2006 from 0.83% in December 2005.
Although Financial Stability is still strong in Albania, BoA asked for a stronger supervision of lending on the part of commercial bank and has begun procedures for the necessary legislative reforms to simplify the procedure for the collateral sold out in order to create a better market environment.
Under standard loans levels rose due to an increase in competitiveness created in 2004 from the privatization of Albania’s largest bank which in turn produced a stellar growth of 74% in lending activities during 2005. Lending is growing again this year but slowing.
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on Sep 4th, 2006 and filed under Uncategorized.
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