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Albanian banks' net profit plummets in Jan

Albanian banks' net profit plummets in Jan cozyta/

TIRANA (Albania), March 18 (SeeNews) – The net profit of Albania's banking sector decreased to 2.6 billion leks ($23.2 million/20.4 million euro) in January, from 22.0 billion leks in the same month a year earlier, according to data published by the Albanian Association of Banks (AAB) on Monday.

The Albanian banking sector's outstanding loan portfolio also shrank, to 553 billion leks from 600.3 billion leks at the end of January 2018, AAB said in a monthly report, citing data of the country's central bank.

The ratio of problem loans to total loans dropped to 11.3% from 13.4%.

Deposits in Albanian banks decreased to 1,150 billion leks at the end of January from 1,171 billion leks a year earlier.

The total assets of Albania’s banking system fell to 1,417 billion leks from 1,450 billion leks.

Return on assets (ROA) increased to 2.3 billion leks from 0.5 billion leks. Return on equity also grew, to 20.7 billion leks from 4.1 billion leks.

The figures comprise the financial results of 14 Albanian banks, as compared to 16 in 2018. The largest by assets among them are Banka Kombetare Tregtare (BKT) and Raiffeisen Bank Albania.

(1 euro = 123.654 leks)