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Lek deposits decreasing for the second consecutive month

Politiko 2025-05-29 14:34:19

Lek deposits decreasing for the second consecutive month

Individuals and businesses saved less in the first months of 2025, compared to previous years, where the trend was more evident for the local currency.

Bank of Albania statistics revealed that in April, the stock of savings in lek at the end of April was 640 billion lek, with a decrease of 0.75%, or about 5 billion lek compared to the previous month.

This is the second month when the trend of deposits in local currency is decreasing, unlike January and 2024, when the trend was of strong growth.

The April performance was affected by a decline in deposits of financial corporations, which shrank by 6.1 billion lek, or $6.3 less. Residents' savings increased very slightly by 0.3%, failing to offset the contraction in business deposits.

On an annual basis (April 2025/April 2024), deposits in local currency have increased by 9.27%, or almost 60 billion lek more.

The euro has returned in April as the most preferred currency for saving. According to statistics from the Bank of Albania, the stock of deposits in the common currency reached 8.056 billion lek at the end of April, with an increase of 45 million euros, or 0.6% more than the previous month.

The growth was driven by both private and public corporations, as well as individuals. This improvement came after an 80 million euro decline in foreign currency deposits.

On an annual basis (April 2025/April 2024), deposits in the common currency increased by 7%, or 566 million euros more.

The Bank of Albania reports total savings (lek plus foreign currency) converted into lek. At the end of April, the total stock of deposits was 1.37 trillion lek, with a decrease of 0.35% compared to the previous month, or 4.8 billion lek less, affected by the decline in savings in lek.

The stabilization of the euro has reduced the impact that the latter's decline had on the contraction of foreign currency savings when they are reported in euros./ Monitor.al

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