Microfinance institutions' profit reaches 13.7 million euros
The net profit of microfinance and non-banking financial institutions in Kosovo from January to August of this year has reached 13.7 million euros, all due to the high interest rates on loans they provide to clients.
In the latest report of the Central Bank of Kosovo (CBK) on the financial system of Kosovo, the average interest rate on loans and leases from microfinance and non-banking financial institutions is 19 percent.
"The net profit for microfinance and non-banking financial institutions in Kosovo for the period January-August 2024 is 13.7 million euros," the CBK report states.
According to the CBK, the number of Microfinance Institutions (MFIs) in our country is nine.
The banking sector also had a large profit during the period, January-August of this year, of 124.4 million euros. The loan rate according to the CBK is 6.1 percent.
