Intesa Sanpaolo Albania's net income more than doubles in 2023

The bank's operating income rose to 70 million euro in 2023, Intesa Sanpaolo Group said in a consolidated interim financial statement last week.

In fiscal year 2022, ISBA achieved a net income of 1.3 billion leks (12.4 million euro) and an operating income of 4.9 billion leks, according to previously disclosed financial results.

ISBA's customer deposits totalled 1.6 billion euro at the end of 2023, the group said. Intesa Sanpaolo Bank Albania recorded deposits of 167 billion leks (1.61 billion euro) at end-2022. Customer loans amounted to 500 million euro last year, down from 56.2 billion leks (541.6 million euro) recorded by end-2022.

Non-performing loans (NPL) at Intesa Sanpaolo Bank Albania amounted to 6 million euro in end-2023, while NPL coverage was 60%, the group said.

Intesa Sanpaolo Bank was the fourth largest lender by assets among 11 banks that operated in Albania in the fourth quarter of 2023, according to data published by the Albanian Association of Banks.

($ = 0.934 euro)