BREAKING NEWS

The organizing group of the arms business in GĂ«rdec is about to sink, the prosecutors are expected to take the facts from the American Justice in their hands, the order letters in the USA are launched, information will also be obtained about Patrick He...

The organizing group of the arms business in Gërdec is about to sink, the
x
BREAKING NEWS

Daut Gumeni: This is why the socialists and Gentiana Sula blocked the opening of Ilir Metaj's spy file, we expect that the "syringe with sea water" that the DASH senior official injected into SPAK prosecutors will lead to the arrest of "heavyweights"

Daut Gumeni: This is why the socialists and Gentiana Sula blocked the opening of
x
BREAKING NEWS

The scandal erupts, the Parliament of Albania is accused of voting without a quorum on the Law on Strategic Investments, this is how the Constitution was overturned by the majority, the fraud is revealed

The scandal erupts, the Parliament of Albania is accused of voting without a
x
BREAKING NEWS

The dubious wealth of the "sheikh" of the Assembly Laert Duraj who challenges the old "wolves" in politics, apartment 200 thousand euros, 11 bank accounts, staggering profits from rent, 180 thousand euros from property sales, how he justified the milli...

The dubious wealth of the "sheikh" of the Assembly Laert Duraj who
x
BREAKING NEWS

Here are the deals of the SP and Reestablishment, how they are defending the corruption of Klodian Allajbeu and Vilma Nushi, thefts with "Hemodialysis", "Check Up", "Laboratories" and "Sterilization" are proven, arrests are expected from SPAK

Here are the deals of the SP and Reestablishment, how they are defending the
x
BREAKING NEWS

Rama-Berisha set up a commission to destroy SPAK and the Justice Reform, here are the new "non-women" deals with the prime minister to block arrests

Rama-Berisha set up a commission to destroy SPAK and the Justice Reform, here
x
BREAKING NEWS

The Port of Vlora scandal broke, this is how Samir Manes was forgiven 57 thousand square meters of land, 2 ministers were implicated, SPAK takes over the lawsuit against the government mega-oligarch

The Port of Vlora scandal broke, this is how Samir Manes was forgiven 57
x
BREAKING NEWS

The well-known journalist warns of sensational arrests in the coming days, here are some of the "scorching" files that SPAK is investigating and the scheme followed by BKH agents to arrest Jorgo Goro, the acting mayor of Himara was intercepted for 4 mo...

The well-known journalist warns of sensational arrests in the coming days, here
x

Ekonomia

Gangrene microcredit foundations of the banking system, bad loans increase significantly, BoA determined to limit abusive interests

Gangrene microcredit foundations of the banking system, bad loans increase

Microcredit foundations continue to be the gangrene of the banking system. Institutions have been added to the country like mushrooms in vain, which give loans only with identity cards, but through this scheme are increasing the level of bad loans. Yesterday, the Bank of Albania published the report on banking financial stability for the first 6 months of this year. While normal banks seem to be moving at a satisfactory pace, microcredit institutions are the ones facing problems. According to the BoA, for some time now only bad loans have been growing. "The quality of the loan portfolio marked a decline, as the ratio of non-performing loans at the end of the first quarter of 2021 reached about 13% from 11% and 10% a quarter and a year ago ... provided by these entities by the end of the first quarter was relatively good, though with a slight decline compared to a year ago. Exposure of the banking sector to the non-banking sector remains limited and has not changed during this period. The exposure of the non-banking sector to the banking sector continues to remain high, as the placements of non-banks with the banking sector, in the form of deposits and capital instruments, occupy about 20% of the non-bank balance sheet ", the Bank of Albania states.

Ceiling for interests

In the report, the BoA has clarified the initiative it has taken to limit the high interests of these institutions. According to the BoA, several amendments have been prepared to regulation 48/2015 "On consumer credit and mortgage credit" which provides for the establishment of a ceiling level for the effective interest rate (hereinafter, maximum NEI) applied to new consumer loans.

More specifically, regulatory changes will consist of: Setting a maximum level of effective interest rate to be applied in new consumer credit agreements. The maximum NEI will be calculated by the Bank of Albania every six months, as an average of NEIs applied by the banking sector and non-bank financial entities, increased by one third of this value, according to the matrix that provides 4 categories69 of consumer credit divided into 3 intervals of disbursed amounts. The maximum NEI is calculated based on the NEI applied in the market

during the last six months, it serves as a reference at the moment of determining the interest rate of the contracts that will be concluded / signed in the following six months so that the lenders in no case exceed the maximum NEI values ??published by the Bank of Albania. Also, these changes aim at setting a maximum level of 30% of the amount of penalties and interest on arrears, provided in regulation 48/2015, in relation to the remaining contractual obligation, in order to avoid excessive levels of penalties and accrued interest, which would further aggravate the client’s financial situation and his ability to pay the obligations on time.

Most read