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Kosovo banks Jan-Aug net profit rises

Kosovo banks Jan-Aug net profit rises cozyta/

PRISTINA (Kosovo), October 1 (SeeNews) – The net profit of Kosovo's banking sector increased to 58.5 million euro ($63.9 million) in the eight months through August, from 55.8 million euro in the like period of last year, the country's central bank said.

The outstanding loan portfolio of Kosovo's banks expanded by 10.4% year-on-year to 2.94 billion euro at the end of August, the central bank said in a monthly report last week.

Deposits increased by 11.9% on the year, reaching 3.6 billion euro at the end of August.

The Kosovo banking system's total assets grew to 4.46 billion euro as at the end of August from 4.0 billion euro a year earlier.

Return on assets (ROA) fell to 2.1%, from 2.4%. Return on equity also dropped, to 17.5% from 19.3%.

The figures comprise the financial results of 10 Kosovo banks. Raiffeisen Bank Kosovo and ProCredit Bank are the largest among them in terms of assets.

($=0.9159 euro)