May 11 (SeeNews) - The combined net profit of Albanian banks jumped to 5.77 billion leks ($46.7 million/42.9 million euro) in the first quarter of the year, compared to a net profit of 1.43 billion leks in the like period of 2016, industry data shows.
The banks' total outstanding loan portfolio grew 2.1% on the year to 601.4 billion leks in the first quarter, according to figures published on the website of Albania's national association of banks, AAB.
Corporate loans ticked down 0.4% to 430.6 billion leks, whereas retail loans increased by 8.9% to 170.8 billion leks.
The ratio of non-performing loans dropped to 17.4% of Albanian banks aggregate loan portfolio as of end-March, from 19.3% a year earlier. In February, the level of non-performing loans also declined - to 18% from 18.9% a year earlier.
Total deposits with Albanian banks reached 1.15 trillion leks at the end of March, up 3.6% year-on-year.
Retail deposits grew 2.4% on the year to 964.3 billion leks, whereas corporate deposits increased 9.8% to 184.5 billion leks.
The total assets of Albania's banking system grew 5.8% on the year, reaching 1.4 trillion leks as of end-March.
The key profitability indicators of the Albanian banking sector improved: return on equity (ROE) rose to 16.6% at end-March from 4.5% a year earlier, whereas return on assets (ROA) added to 1.6% from 0.4% .
The combined net profit of Albanian banks plunged 70% to 9.3 billion leks in 2016.
(1 euro = 134.410 leks)