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In 10 Central and Eastern European countries, Albania and Serbia had the highest percentages of loans given for education and professional activities compared to other countries, where the largest share of lending, on average 40 percent of the total, goes to Consumption of goods, travel, home renovation or car purchase, according to data obtained by the Central Bank of Austria from the annual survey conducted in the countries of the Region for the years 2017-2018-2019.
Of those who claimed to have a loan to repay in Albania, 33 per cent had received it for education or professional activities, 32 per cent had borrowed for consumer finance and 35 per cent had claimed to have received it. home loan. The data refer to the credit of individuals and not of businesses.
After Albania, Serbia had the highest percentage of individuals who had received loans for education and professional development with about 35%, while it can be seen that Serbs had the lowest percentage of individuals who received loans to buy houses with only 15%.
According to the data in the attached graph, the Czech Republic has the lowest percentage of individuals receiving loans for studies and professional development, followed by Hungary and Bosnia.
Croats and Czechs have the highest percentage of individuals borrowing to buy a home. For example, out of the total number of individuals with loans, 47% of them in Croatia take out a loan to buy a house, while in the Czech Republic 46%. And Hungary 41%.
Bulgaria and Serbia have the highest percentage of people taking out consumer loans.
At the national level, the share of housing loans was declining in Bosnia and Croatia, while the loan portfolio showed a shift towards consumer loans in Bulgaria, Croatia and Romania at the end of the survey period.
The data show that, from 2017 to 2019, the growth rates of credit to the private sector have remained significantly positive all the time, with the exception of the negative growth rates in Albania in the fourth quarter of 2018 and in Croatia in the fourth quarter of 2017.
At the end of 2019, the highest credit rates for households were in Hungary (+ 13.1%), Serbia (+ 8.9%) and Bulgaria (+ 7.4%), while the lowest value was recorded by Croatia at + 3.9%, though with an upward trend over time.
In Albania, the negative trend of 2018 returned again significantly positive (+ 6.6%). According to the CEE Bank Lending Survey, demand for credit and credit lines continued to grow in the region. Consumer loans saw stronger growth between 2018 and 2019./ Monitor
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