More Albanians are borrowing from relatives - BoA report: In 39% of cases, it is declared in the form of cash
More Albanians are borrowing from informal sources, seeking cash assistance from relatives or friends to cover their consumption or housing expenses.
According to a report published by the Bank of Albania, in about 47% of reported cases, household borrowing results in the form of loans from financial institutions. About 41% of cases are in the form of bank loans and 6% are in the form of credit cards or overdrafts.
Bank borrowing has decreased by 3 percentage points compared to the second half of 2024, while credit card and overdraft borrowing has not changed.
On the other hand, in about 39% of cases, borrowing is declared in the form of cash, marking an increase of 5 percentage points in six-month terms. In 13% of cases, it results in the form of unpaid goods, decreasing during both comparative periods.
Regarding the level of income and expenditure of borrowing households, the latter are moving towards a higher income level, while the growth of expenditure has slowed down.
The two main forms of loan repayment continue to be payments 'with the same amount every 1/3/6/12 months' (58% of borrowing cases), 'with variable amounts in different periods' (30% of borrowing cases) and 'with variable amounts every 1/3/6/12 months' (7% of borrowing cases).
The report shows that in 63% of borrowing cases, the loan is unsecured, an increase of 1 percentage point compared to the previous six months. On the other hand, the share of borrowing cases secured by family property has decreased.
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