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Albanian banks' net profit rises 4.9% y/y in Aug

Albanian banks' net profit rises 4.9% y/y in Aug cozyta/Shutterstock.com

TIRANA (Albania), October 11 (SeeNews) – The net profit of Albania's banking sector rose to 13.8 billion leks ($122.4 million/111.2 million euro) as at the end of August, from 13.2 billion leks a year earlier, the Albanian Association of Banks (AAB) said on Friday.

The Albanian banking sector's outstanding loan portfolio shrank to 568.9 billion leks, from 584.4 billion leks at the end of August 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 11.0% at the end of August from 12.9% a year earlier.

Deposits in Albanian banks increased to 1,166.5 billion leks at the end of August from 1,165.6 billion leks a year earlier.

The total assets of Albania’s banking system fell to 1,445.0 billion leks from 1,450.9 billion leks.

Return on assets (ROA) edged up to 1.54 billion leks from 1.50 billion leks. Return on equity (ROE) also increased, to 14.2 billion leks from 13.4 billion leks.

The figures comprise the financial results of 13 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 = 121.995 leks)

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