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Albanian businesses increase lending from banks

Albanian businesses increase lending from banks

Albanian businesses increased the amount of money lent by banks by ALL 2.3 billion during Q3 2017. A report published recently by the Bank of Albania says SMEs and large businesses increased lending in July and August, despite the fact that banks keep tightening policies in this regard.

Banks are making it more difficult for businesses to lend money, by requesting more collateral and by offering less money than businesses want. Bank of Albania’s report also says the average loan interest for business loans decreased to 6.97 during Q3.

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The report presents a positive trend for business loans, indicating that businesses are expanding their activity and increasing investments.

News Source: ATA
Photo credits: VisualHunt