June 6 (SeeNews) - The combined net profit of Albanian banks more than tripled to 7.1 billion leks ($59.8 million/53.1 million euro) in the first four months of the year from 2.2 billion leks in the like period of 2016, industry data shows.
The banks' total outstanding loan portfolio grew 1.5% year-on-year to 598.9 billion leks in the January-April period, according to figures published on the website of Albania's national association of banks, AAB.
Corporate loans edged down 1.2% on the year to 428 billion leks, whereas retail loans increased by 8.9% to 170.9 billion leks.
The ratio of non-performing loans dropped to 16.6% of Albanian banks aggregate loan portfolio as of end-April, compared to 20% at the end of April 2016. In March, the level of non-performing loans also declined - to 17.4% from 19.3% a year earlier.
Total deposits with Albanian banks reached 1.15 trillion leks at the end of April, up 3.9% on the year.
Retail deposits grew 2.5% to 960.6 billion leks, whereas corporate deposits increased 12% to 187.1 billion leks.
The total assets of Albania's banking system grew 6% on the year, reaching 1.4 trillion leks as of end-April.
The key profitability indicators of the Albanian banking sector improved: return on equity (ROE) rose to 15.4% at end-April from 5.3% a year earlier whereas return on assets (ROA) increased to 1.5% from 0.5%.
The combined net profit of Albanian banks plunged 70% to 9.3 billion leks in 2016.
(1 euro = 133.848 leks)