3 hours agoKosovars don't fear pandemic, get into credit “up to the throat”
Periskopi(5 years ago)
(5 years ago)The situation with COVID-19 has not frightened Kosovars to take loans at commercial banks in Kosovo. 2.3 billion euros is the value of loans citizens have in banks. According to the Financial System Report released last week for February 2021 by the BQC, the value of loans [...] has reportedly increased
The situation with COVID-19 has not frightened Kosovars to take loans at commercial banks in Kosovo. 2.3 billion euros is the value of loans citizens have in banks.
According to the Financial System Report released last week for February 2021 of the CEC, the value of loans Kosovars received in banks in February is seen to have increased. If in January the value of loans was a total of 3 billion and 233m euros, in February the total value is 3 billion and 260m euros, so there has been a monthly increase of 27m euros, the news writes.net.
The loans increased as a result of the introduction to citizens' obligations either according to the BQK's dictionary of family economies, if they were worth 1 billion and 180 million in January, in February they reached 1 billion and 198 million, or 18 million more. The increase then marked loans for non-financial corporations and other financial corporations.
Deposits have increased from 4 billion and 340m to 4 billion and 350m euros. Thus, citizens in a month raised 10m euros in banks.
The effective interest rate on credit in February, according to the CEC, has marked growth, from 6.1 percent to 6.2 percent.
Banks have increased revenues during February, compared to January. For example, in January the revenues were 25.3m euros, in February they amounted to 47.8m euros.
Banks in February reported many large expenditures. If spending worth 16.8m euros was reported in January, in February they were reported at 31.2m euros. Of all net profit, the average conversion to assets was 2.3 percent, and the previous month it was 2.3 percent.
In January, the value of banking assets in Kosovo has been 5 billion of 321m euros, while in February the asset value has marked growth, reaching 5 billion and 349m euros.
The banking sector, prior to the spread of the Covid-19 pandemic, has generally operated in a low-level risk environment. The spread of the David-19 pandemic since the second half of March, as well as continuing measures for its prevention, have contributed to the increase in risks to which the banking sector is exposed.
11 commercial banks operate in Kosovo, out of which 9 are foreign-owned
The report, January 2021:
