Head of central bank stresses the importance of the banking system for a sustainable economic model

Governor of the Bank of Albania on Tuesday stressed the importance of the banking system in building a sustainable economic model.

During a conference hosted on the occasion of the 20th anniversary of the Association of Albanian Banks, governor Gent Sejko said that banks must try and allocate funds in the most productive sectors which offer more potential for long-term development.

Meanwhile, the governor reiterated his appeal that banks should offer more loans for businesses and individuals.

In the decade that followed the international financial crisis, the Albanian banking system faced a decline in demand, an increase of non-performance loans and the departure of some of the most important market players. Now, NPLs are on a downward trend, while the restructuring process and the consolidation of the market are being finalized.

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