Albania's bank lending growth accelerates to 12.5% in July 2011.

By bne IntelliNews September 1, 2011
Bank lending in Albania increased by 12.5% y/y to ALL 516.3bn (EUR 3.7mn) as at end-July 2011, accelerating from a 11.5% growth in the previous month, the central bank said. A year ago the lending growth stood at 9.8% y/y. In our calculations, the credit portfolio accounted for 38.7% of the projected full-year GDP. Corporate loans, which accounted for 65.6% of all extended credits, expanded by 15.9% y/y in July and speeded up for the second consecutive month from 13.9% y/y May 2011. Although at a slower pace, the credits to households continued to recover in July, growing by 5.4% y/y. Household loans accounted for 30.1% of the total credit portfolio. Albanias central bank projected a 12% y/y growth in credits to the private sector this year.

Albania's bank lending growth accelerates to 12.5% in July 2011.

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