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Industry Leads Credit to Businesses

Industry Leads Credit to Businesses

In the first quarter of 2019, credit to businesses increased by ALL 6 billion. According to Bank of Albania data, most of the loan went to finance the industry sector.

The growth of this sector balanced the portfolio shrinkage in the agricultural sector and other services. The industry-based lending grew by 9.3%. Meanwhile, the construction sector showed a moderate growth of All 0.8 billion, while that of the trade confirmed a similar growth to the previous quarter of All 1.7 billion.

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According to BoA, the loan portfolio for agriculture and other services remained at the levels of the previous year, ie 1.4% and 15%

In the first quarter, the improvement of credit growth rates for businesses was mostly driven by credit to the big business, which grew by about ALL 4.2 billion over the first quarter.

In annual terms, corporate lending rose to 4.7% versus 2.2% in December. Credit to Small and Medium Enterprises has slowed, giving a smaller contribution to the expansion of the loan portfolio this quarter.

News Source : ATA

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