March 20 (SeeNews) - ProCredit Bank Albania, a wholly-owned subsidiary of Germany-based ProCredit Holding, said on Wednesday it recorded a pre-tax profit of 2 million euro ($2.2 million) in 2023, an increase from a profit of 1.2 million euro in the previous year.
The lender's loan portfolio totalled 265 million euro at the end of December, a 5.3% increase from a year earlier, ProCredit Bank Holding said in an interim statement.
The bank's deposit portfolio grew by 19% year-on-year to 33 billion leks (318 million euro) at the end of December, the Albanian banks' Association said earlier in a quarterly report.
Total assets increased to 44.3 billion leks as at end-December, from 40.1 billion leks a year earlier.
ProCredit Bank was the tenth largest lender by assets among 11 banks that operated in Albania in the fourth quarter of 2023, according to the Albanian banks’ association.
($ = 0.920 euro)