March 7 (SeeNews) - The combined net profit of Kosovo's banks increased to 9.2 million euro ($9.7 million) in the first month of 2017, from 5 million euro a year earlier, according to central bank data.
The banking sector's outstanding loan portfolio expanded 10.5% year-on-year, reaching 2.22 billion euro in January, figures published on Kosovo central bank's website sh.
Corporate loans increased 8.4% to 1.42 billion euro billion euro, while loans to households grew 14.7% to 794.9 million euro. Credits in currencies other than the euro amounted to 4.2 million euro.
Bad loans represented 4.9% of total loans in January, down from 6.2% in January 2016.
Deposits in Kosovo's banks increased by 8.4% on the year to 2.9 billion euro in the first month of 2017. Deposits of households grew 6.7% to 2.11 billion euro, whereas corporate deposits jumped 18% to 647.3 million euro.
The banking system's total assets grew 7.8% year-on-year to 3.63 billion euro as of end-January.
Return on assets (ROA), a key profitability indicator of the sector, increased to 3.2% at the end of January, from 1.8% a year earlier. Return on equity (ROE), another profitability indicator, also improved, rising to 26.8% from 15.1% in January 2016.
The figures comprise the financial results of ten Kosovo banks. The largest in terms of assets among them are Banka Kombetare Tregtare, Raiffeisen Bank Kosovo and ProCredit Bank.
In 2016, the combined net profit of Kosovo's banks declined 20.3% to 75.5 million euro.
($ = 0.9453 euro)
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