Albania’s richest people and companies are getting richer, according to recent figures for 2021 from the Bank of Albania.
The report shows that the deposit share from the country’s 10 wealthiest has increased from 5.2% to 6.8% since 2020.
The share of the largest depositors is monitored and reported on by the Bank for the purpose of supervising the concentration of deposits and it includes individuals and companies. During 2021, bank deposits grew at the fastest rate in the decade at more than 10.9%, reaching a value of €12 billion.
As for the top ten richest depositors, the Bank calculated that they deposited around €810 million each, an increase of 45% on 2020. As for the 20 wealthiest, their income soared by nearly 40% year-on-year.
Figures from the Deposit Insurance Agency confirmed the figures, as their data shows that in 2021, some 109,000 people had a combined €5.4 billion in deposits. This equates to these individuals holding over half of the deposits of all the remaining regular households.
These figures show that the richest have continued to increase the share of assets held in the form of money in the banking sector.
Meanwhile, a third of the Albanian population live below the poverty line, with the risk of more citizens joining them due to rising inflation.