TIRANA, Aug. 16 (Xinhua) -- Loans extended by banks in Albania to businesses improved significantly in the second quarter of this year, the Bank of Albania said on Tuesday.
Bank lending to businesses in the country increased by 2.1 percent in the second quarter, driven by an improvement in the investment trend that started in the beginning of the year.
The rise in lending to businesses was led by loans to trade and hotels and restaurants. Loans to the construction sector also rose. However, loans to the industrial sector shrank by around 2 percent.
Banks in Albania have tightened the requirements for corporate loans over the past months, and the demand for corporate loans has been weak.
The Bank of Albania said it expects lending requirements to ease in the third quarter and the demand from small and medium enterprises to improve.
