Lek deposits increase significantly in January/ Businesses increased their savings by 160 million euros

2024-02-28 16:07:00, Ekonomi CNA
Lek deposits increase significantly in January/ Businesses increased their
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Deposits have significantly accelerated the upward trend in January, both in local currency and in foreign currency.

Bank of Albania data revealed that in January, the stock of savings in ALL reached 593 billion ALL, with an increase of 2.43% on a monthly basis, or 14 billion ALL more.

The addition of savings in Lek has come entirely from the liquidity of businesses. The non-term savings of other financial corporations reached 108 billion ALL, with an increase of 18.3% compared to the previous month. This is the largest monthly increase in business deposits ever recorded since the Bank of Albania has been reporting data since 2006.

In just one month, business deposits increased by 16.7 billion ALL, or about 160 million euros more.

In contrast, the performance of individuals' deposits in the local currency has shown a slight increase, with only 0.95% on a monthly basis.

Compared to a year ago, Lek deposits expanded by 6.7%, the best performance in recent years. since October 2023, savings in lek are growing rapidly.

Savings in euros also increase

Unlike the month of December, when savings in euros remained in the country, despite the fact that December traditionally has an upward trend due to the influx of immigrants, the first month of this year was more positive.

According to the Bank of Albania, deposits in the common currency reached 7.4 billion ALL, with an expansion of 1% on a monthly basis, or 96 million euros more. The main influence on this trend has been given by the savings of individuals.

On an annual basis, deposits in euros have increased by 16%, or about 1 billion euros more./Monitor

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