The financial wealth of Albanians is estimated to be a little more than a trillion lek or about 8.1 billion euros. This indicator is calculated as the difference between the assets and liabilities of individuals in financial products and instruments.
Based on the data of the Bank of Albania, at the end of December 2020, individuals owned 1.1 trillion leks in deposits in the banking system. To these are added investments in financial securities, either directly or through investment funds. According to the Ministry of Finance, individuals' investments in bonds and bonds, at the end of September 2020, were worth about ALL 77 billion, as Monitor reports.
Meanwhile, according to the Financial Supervision Authority (FSA), the net assets of investment funds at the end of the 9-month period were about 67 billion leks, the vast majority owned by individuals. Another investment that has grown significantly in recent years is that of corporate bonds. The latest figure published by AFSA belongs to 2019 when the value of corporate bonds was estimated at about 7.5 billion, held mostly by individuals.
In total, the financial assets owned by individuals amount to over 1.2 trillion. If we subtract the credit for individuals in the financial system, which at the end of November 2020 was worth 199 billion leks, the remaining amount of almost 1.1 trillion constitutes what at the macroeconomic level can be called the financial wealth of Albanians; at least that invested on formal financial instruments.
Compared to the end of 2019, this indicator has increased by about 3.5%. The increase in financial wealth during the year of the worst crisis of 23 years is mainly related to the increase in the tendency to save between individuals and households, a similar trend in other economies.
Measured per capita, the financial wealth of Albanians would result in about 353 thousand lek or approximately 2850 euros. In terms of per capita wealth, this indicator has increased slightly more, by about 4.1% on an annual basis. The highest increase in financial wealth, measured per capita has occurred due to the continuous phenomenon of the declining population of the country.