About 40 percent of businesses "turn to" banks for loans / Industry and the communication sector with the highest credit growth

2024-11-04 11:11:26Biznes SHKRUAR NGA REDAKSIA VOX

About 40 percent of businesses "turn to" banks for loans / Industry

According to the official figures published by the Bank of Albania, the total value of loans for the sector of "Private non-financial corporations" during the month of September of this year is recorded at 19.7 billion ALL, marking an annual increase of 16.6%. This sector accounts for the largest share of credit in the economy.

"Scan Intel" has analyzed the figures to understand which economic activity received the most loans compared to last year. The "Extractive Industry" sector has experienced the highest annual growth with 768.8%, going from 64 million ALL in September 2023 to 556 million ALL in September 2024. This change shows an increased interest of this sector to address banking institutions for credit.

Likewise, the "Information and communication" sector in the ninth month of this year received 956 million ALL in loans or 1095% more than in the same period of the previous year. The same line has been followed by the "Accommodation and food service" sector, whose lending is presented with a 200.4% annual increase.

In contrast, sectors such as "Agriculture, Forestry and Fisheries" and "Real Estate Activities" have suffered significant declines, by 25.7% and 58.4%, respectively. These changes may be indicative of a decrease in investment in these areas.

The activities that have experienced a decrease in lending also include sectors such as "Health" and "Electricity, gas supply, steam" etc. that have experienced a decrease in lending by 5.4% and 10.7% respectively

How much weight does each sector have in total lending?

According to the figures, "Wholesale and retail trade" occupies 31.8% of the total, followed by Construction and Transport with 16.4% and 10.8% of total lending. While education, health and real estate activities occupy a negligible weight.


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