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 ALL 1.1 trillion 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.

Meanwhile, according to the Financial Supervision Authority (FSA), the net assets of investment funds at the end of the 9-month period were about ALL 67 billion, 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 ALL 1.2 trillion. If we subtract the credit for individuals in the financial system, which at the end of November 2020 was worth ALL 199 billion, the remaining amount of almost ALL 1.1 trillion constitutes what at the macroeconomic level can be called the financial wealth of Albanians; at least that invested in 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 declining population of the country.

However, in reality the wealth of Albanians is quite polarized and unequal. According to statistics published annually by the Deposit Insurance Agency, at the beginning of 2020 about 3.3% of depositors in the banking system owned 46% of total bank deposits. In number, there are about 96 thousand Albanians who together own deposits for a total value of 551 billion or 4.4 billion euros. / Monitor