Albania’s Union Bank net profit up 18% in Q3 y/y

Total assets increased 6.6% to 103.8 billion leks in the July-September period, compared to the same period in the year prior, Union Bank said in an interim financial report.

The lender’s loan portfolio totalled 43.2 billion leks at the end of September 2023, up from 39.7 billion leks at the end of September 2022, the Albanian banking association said earlier.

Union Bank’s deposit portfolio rose to 76.1 billion leks as at end-September, up from 71.9 billion leks a year earlier.

Established in 2005, Union Bank has a network of 33 branches across Albania, according to its website. Union Bank was the country's eighth largest lender in terms of assets in the third quarter, according to data from the Albanian Banks Association.

(1 euro= 101.186 Albanian leks)