Citizens of Kosovo continue to rely on loans and remittances.

The Central Bank of Kosovo (CBK) published data for the month of January, showing the amount of loans taken by citizens and how much money emigrants sent to Kosovo.

Over 84 million euros represent the value of remittances sent to Kosovo by migrants for January 2024.

Meanwhile, their value until the end of 2023 was 1 billion 343 million euros.

According to the report, the largest inflows of remittances were from non-bank financial institutions with a share of 63.3%, followed by banks with 19.4%, and other channels with 17.3%.

The CBK announced that in January of this year, banks in Kosovo issued loans worth 137.9 million euros.

In the report published on Thursday, the CBK announced that 90.4 million euros is the value of deposits, while 7.36 billion euros is the value of banking assets.

“While the interest rate on loans is 6.38 percent, and the interest rate on deposits is 2.74 percent. 81.6 percent is considered to be the loan-to-deposit ratio. According to the report, the capital of commercial banks for this month was 879.6 million euros. The value of new loans in January 2024 was 137.9 million euros, while the amount of new deposits reached 90.4 million euros. Also, the average interest rate on deposits was 2.74%, while the average interest rate on loans was 6.38%.”

Regarding the assets of insurance companies, the CBK shows that up to this month, their value was 312.2 million euros, marking an increase of around 6.8 million euros compared to the previous month.

Meanwhile, the assets of pension funds have reached the value of 2.75 billion euros, marking an increase of 41 million euros.

Finally, the CBK indicates that the assets of other financial intermediaries at the end of January 2024 have decreased by 1.7 million euros compared to the previous month, reaching the value of 511.9 million euros.