The saving & loan associations have performed better during this period, however in comparison to the previous year it has contracted, according to Bank of Albania.
This performance reflects the restructuring of these institutions’ activity in line with the new law regulating their activity and inclusion in the deposit insurance scheme.
The financial result of saving and loan associations was returned on positive terms (ALL 5 mln) in comparison to financial loss of 2015 (ALL 274 mln). The loans to clients, other equities (mainly investments in shares) and assets represent the main financial items of these institutions.
At the end of 2016, the market numbered 9 saving & loan associations. Source: ATA