New loans for business, record in January, trade continues to be in first place

According to the latest figures published by the Bank of Albania for the first month of 2024, there is an increase in new loans granted during January to businesses and private non-financial corporations classified according to their economic activity. Thus, during the month of January, inflows of money at the level of new business loans are fixed at around 17 billion. Compared to January of last year, we have an increase of 67.1%, or in absolute terms, with 915 million ALL. Compared to the same period in the last 6 years, January of this year marks the highest value.

Regarding the sectors that were supported the most by the loans distributed during the month of January, we see that "Wholesale and retail trade" prevails, with 4.8 billion lek loans received from the bank, or 10.7% more than in January 2023 Then, in second and third place are "Construction" and "Manufacturing Industry" with 3.1 billion ALL and 2 billion ALL of new loans borrowed from the bank.

On the other hand, the data from the bank institution show that the sectors that turned to banks for loans the least were "Scientific and technical professional activities" with 32 million lek and "Production activities of goods and services for personal use" with 48 million lek. million lek.

Meanwhile, if we analyze the expansion of the portfolio for each sector in annual terms, the figures say that the "Extractive Industry" sector has had the highest growth with 3275% and "Other service activities" have expanded their portfolio with 1027%. Meanwhile, "Manufacturing Industry and Trade" even though they have the highest credit value compared to other sectors in January 2024, compared to the same period of the previous year, these sectors increased their financing by 51% and 11% respectively.

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