Most banks in Albania report profits in 9-month performance report: AAB

Commercial banks operating in Albania have reported lucrative activity for the third quarter of this year.

According to unaudited data from the Albanian Association of Banks, most of them reported a positive result for the nine-month period of 2017.

Profitability remains higher in the case of the largest banks of the system, but however at the beginning of the year there was a positive turn even for some of the banks that had reported negative results in recent years.

Larger banks, which own more than 10% of the market share, closed the first quarter with profits.

This group includes the National Commercial Bank BKT, Raiffeisen, Credins and Intesa Sanpaolo.

Especially BKT and Raiffeisen have significantly higher returns than the rest of the system, due to the higher market share and the low-risk capital investment base, especially related with government bonds and treasury bills.

According to the Association of Banks, BKT reported a quarterly return on equity at approximately 45%, while Raiffeisen reported a 33% quarterly return.

For the rest of the banking system, profits are on a more limited scale, both in absolute value and measured as return on invested capital.

Credins Bank achieved a profit of ALL 337 million, confirming in the third quarter its positive performance that has lasted for years.

Among middle-sized banks, Tirana Bank has made a comeback to positive results this year after a series of consecutive years of loss.

A positive result was also reported by Union Bank, ABI Bank, Societe Generale and Fibank. Since more than two years, these banks are reporting a positive financial performance.

Meanwhile, Alpha Bank closed another quarter with losses, along with NBG Bank, the bank of the Greek group that is on the verge of selling its business in Albania.

So far, ProCredit Bank, United Bank of Albania, International Commercial Bank and Veneto Bank are also showing negative results for this year.

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*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.