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Non-performing loans have hit a ten-year low.
Bank of Albania data show that in December the level of bad loans reached 4.7%, the lowest recorded in more than 10 years. This shows that the increase in interest rates, which has made loan installments more expensive, has not affected the non-payment or delay in their repayment.
The economic expert, Morena Boja, said in "Money Report" that the strengthening of the national currency and the tightening of the criteria for obtaining loans have influenced the improvement of this climate.
Another indicator that has influenced the reduction of the level of non-performing loans is the circulation of money outside the financial system.
"The tightening of the criteria for loans has had an effect. The strengthening of the lek reduced the non-performing loans in the country. One reason is the circulation of undeclared money outside the financial system," said the expert.
She emphasized that banks should also be careful when it comes to approving loans, analyzing the causes of risk.
"Banks should also address customers in declaring their income and taking into account their balances. The decrease in the % of non-performing loans is also good for the banks," she added.
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