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Albanian banks' net profit rises in 2019

Albanian banks' net profit rises in 2019 Capricorn Studio/Shutterstock.com

TIRANA (Albania), February 10 (SeeNews) – The net profit of Albania's banking sector rose to 19.9 billion leks ($177.8 million/162.4 million euro) last year, from 18.4 billion leks in 2018, the Albanian Association of Banks (AAB) said on Monday.

The Albanian banking sector's outstanding loan portfolio shrank to 575.7 billion leks in 2019, from 580.7 billion leks a year earlier, AAB said in a December monthly report, citing data of the country's central bank.

The ratio of bad loans to total loans dropped to 8.4% at the end of December from 11.1% a year earlier.

Deposits in Albanian banks increased to 1,193.2 billion leks, from 1,180.2 billion leks.

The total assets of the country's banking system rose to 1,475.6 billion leks at the end of December from 1,452.9 billion leks at the end of 2018.

Return on assets (ROA) rose to 1.49 billion leks from 1.2 billion leks. Return on equity (ROE) also increased, to 13.45 billion leks from 13.0 billion leks.

The figures comprise the financial results of 12 Albanian banks, as compared to 16 in 2018. The largest by assets is Banka Kombetare Tregtare (BKT).

(1 euro = 121.369 leks)

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