E fundit!

09:16 CRIME

TNT explodes in Lezha

A TNT explosion occurred in Lezha in the early hours of th...

The richest get richer, the weight of the largest depositors increased significantly in 2023

2024-07-09 08:04:00, Ekonomi CNA

The weight of large depositors to total bank deposits marked a significant increase again last year.

According to data from the Bank of Albania, at the end of 2023 the ten largest depositors at the end of the year owned more than 8% of the total bank deposits, from 6.9% that this indicator had been the year before.

A similar trend is observed for other groups of large depositors.

The 20 largest depositors at the end of last year held 10.5% of deposits, compared to 9.1% in 2022.

While the 50 largest depositors held 13.6% of total deposits, from 12.3% they had a year ago.

The weight of the largest depositors is followed and reported by the Bank of Albania for the purpose of monitoring the concentration of bank deposits.

Although the central bank's information does not divide depositors by category, it is believed that most of them are business deposits.

The richest get richer, the weight of the largest depositors increased

Illustrative photo, taken from Google

8.04% of total deposits at the end of 2023 would translate into a value of about 128.4 billion ALL or about 1.24 billion euros (at the end of 2023 exchange rate) in the accounts of the 10 largest depositors.

At the end of 2022, the deposits owned by the 10 largest depositors were about ALL 104.7 billion. This shows that in absolute value, the balance of deposits of the 10 largest depositors increased by ALL 7.4 billion, or 22.6% last year.

The value of bank deposits of the 20 largest depositors at the end of 2023 was calculated at approximately ALL 167.6 billion, increasing by 21.4% compared to the previous year.

For the 50 largest depositors, the value of total bank deposits is calculated at around ALL 217.2 billion, increasing by 16.3% compared to a year ago.

The increase in the share of the largest depositors appears to be in line with the trend of rapid growth in business deposits as a whole.

According to data from the Bank of Albania, at the end of last year, business deposits in banks reached a record value of 360 billion ALL, an increase of 15.5% compared to the previous year.

The growth of business deposits is a visible trend of recent years, which has taken a rapid boost especially after the pandemic. Compared to 2020, business bank deposits have increased by almost 85%.

It appears that business deposits are benefiting from the economic recovery and the increase in prices and profits in the last two years, while in such a situation, the largest entities may understandably be having the greatest benefits, in terms of growth. of the balance of money in their accounts.

However, according to the Special Prosecutor's Office (SPAK), the increase in business deposits can be partially related to their involvement in money laundering schemes.

According to the Bank of Albania, at the end of 2023 bank deposits were worth approximately 1.6 trillion ALL, an increase of 5% compared to the previous year.

The growth rate of deposits slowed down slightly compared to 2022, but this is mainly due to the significant strengthening of the lek in the exchange rate (about 9% at the end of 2023)./ Monitor