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Albanian banks' net profit rises in Q1

Albanian banks' net profit rises in Q1 cozyta/

TIRANA (Albania), May 10 (SeeNews) – The net profit of Albania's banking sector increased to 5.0 billion leks ($45 million/40.1 million euro) at the end of March, from 4.8 billion leks a year earlier, the Albanian Association of Banks (AAB) said on Friday.

The Albanian banking sector's outstanding loan portfolio shrank to 563.2 billion leks, from 596.5 billion leks at the end of March 2018, AAB said in a monthly report, citing data of Albania's central bank.

The ratio of problem loans to total loans dropped to 11.4% from 13.4%.

Deposits in Albanian banks slightly increased to 1,153 billion leks at the end of March from 1,152 billion leks a year earlier.

The total assets of Albania’s banking system fell to 1,427 billion leks from 1,432 billion leks.

Return on assets (ROA) increased to 1.5 billion leks from 1.4 billion leks. Return on equity also grew, to 13.6 billion leks from 13.2 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 = 122.477 leks)