14 minutes agoIn Kosovo, microfinances extended approximately 330m euros in loans per month
Periskopi(3 years ago)
(3 years ago)The value of loans granted by microfinances has marked increases for July 2023 and that gross loans for this month have reached about 330m euros. Loans to family economies represent 63 per cent of Kosovo's microfinance sector loans have published financial statistics, remittances and goods trade for [...]
The Kosovo Central Bank has published financial statistics, remittances and goods trade for July of this year for other financial institutions, which are said to have marked increases.
According to the CEC report, assets of other financial mediators have reached 455.4m euros with an increase of 8.1m euros compared to the previous month.
“Bruto other financial mediators' loans marked the value of around 328.6m euros in July 2023, up for 7m euros compared to the previous month. This increase has largely been influenced by increased financial sector activity loans. Loans to family economies in July 2023 represent 63 per cent of total microfinance sector loans”.
This increase has largely been influenced by increased financial sector activity loans. Loans to family economies in July 2023 represent 63 per cent of the total microfinance sector loans.
It has further become known that pension funds assets have reached the value of 2.6 billion euros, which marks an increase of 66.4m euros compared to the previous month.
The structure of pension sector assets is dominated by capital-worth letters making up 76.4% of total assets. Their value in July 2023 has reached 1.99 billion euros, marking an increase of 225.4m euros compared to the previous month. This increase is largely attributed to increased investment abroad, but it is also noted that there has been an increase in the performance of existing valuable letters which have been invested with the early”.
The remittances in June 2023 amounted to 123.9m euros, which represents an 18 - percent increase compared to the same period in 2022.
The largest remittances during this month were through money transfer agencies and other channels, namely through IFJB 58.4 %, banks 15.4% and other channels 26.2%x1>, the CB reported.
The remittances mainly come from European Union states about 60 percent of the total remittances, of which Germany leads by 38.1 percent and are followed by Switzerland at 17.6 percent and the US at about 7.5 percent.
In terms of insurance companies' assets, the CEC states within this period there has been a decline of over 2m euros.
The assets of the insurance companies amounted to 296.3m euros, which represents a 2.2m-euro drop compared to the previous month. The asset structure in the insurance sector consists of balance with commercial banks making up 44.9 percent, paper value, and other assets make 28.5 percent of assets”.
