Albanian banks’ 10-mo net profit shrinks 26% y/y

TIRANA (Albania), December 11 (SeeNews) – The net profit of banks in Albania fell to 12.6 billion leks ($122.0 million/100.7 million euro) in the first ten months of the year, from 17.2 billion leks in the same period of 2019, the Albanian Association of Banks (AAB) said.

The Albanian banking sector’s outstanding loan portfolio expanded to 592.4 billion leks as at the end of October, from 576.1 billion leks a year earlier, AAB said in a monthly report, citing data of the country’s central bank.

The ratio of problem loans to total loans dropped to 8.29%, from 10.17% at the end of October 2019.

Deposits increased to 1,255 billion leks, from 1,180 billion leks.

The total assets of Albania’s banking system rose to 1,558 billion leks at the end of October, from 1,459 billion leks a year earlier.

Return on assets (ROA) decreased to 1.09 billion leks, from 1.53 billion leks. Return on equity also fell, to 9.66 billion leks from 14.05 billion leks.

The figures comprise the financial results of 12 Albanian banks. The largest one by assets is Banka Kombetare Tregtare (BKT).

Source: SeeNews