BoA transfers to the budget a net profit of ALL 908 mln

The profit transferred from the Bank of Albania to the state budget occupies holds a small part of total budget revenues.

Referring to statistics of the Ministry of Finance during this year’s first four months, the Bank of Albania has transferred to the state budget a profit of ALL 908 million, or 91 percent of the plan.

The forecast of the profit transfer by the Bank of Albania for the year is 1 billion. The same amount was transferred over the past year.

In 2015 BoA has transferred to the state budget ALL 962 million.

Bank of Albania’s capital consists of paid-up capital and general reserve fund, which is 500 percent of the paid-up capital of the Bank of Albania.

The net profit of the Bank of Albania is calculated after deducting expenditure incurred for the financial year in question from the income.

25 percent of the proceeds go to the fund of general reserve and the remaining net profit will be used to compensate treasury bills issued to the Bank of Albania.

The net profit, remaining after deduction of the general fund reserve and the aforementioned compensation, shall be paid to the state budget within four months after the end of the financial year.

The profit transferred from the Bank of Albania is classified within the group of Non Tax Revenue in the Budget.

SCAN

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