Banking sector’s performance in the first semester: Only 8 banks reported profits

The financial results of Albanian banks showed a positive trend in the second quarter of the year.

According to data from the Albanian Association of Banks, the joint financial result of 16 banks for the six month period was positive in the value of 7.5 billion ALL, from 4.4 billion that the profit was in the first quarter.

However, compared with the first quarter, there is a decrease in the number of banks that have achieved a positive financial result.

Eight out of 16 banks closed the first semester with profits, while the number of banks that had a positive result in the first quarter was 11.

As it is usually the case since several years, the highest results have been mainly reported by the largest and most consolidated banks of the system.

The highest earnings for the 6-month period were reported by Raiffeisen, followed by BKT and Intesa Sanpaolo.

A positive result was reported once again by Credins Bank.

Among banks that continued to show positive performance in the second quarter were ABI Bank, Union Bank and Fibank.

The last bank that closed the semester with a modest profit was Tirana Bank, but mainly due to the contribution of the previous quarter, while in the second quarter the bank of the Piraeus Group reported once again a loss.

Among the banks with negative results, the largest losses were recorded by Alpha Bank and Veneto Bank, followed by Credit Bank of Albania, ProCredit Bank and NBG Bank.

One of the banks with steady growth in recent years, Societe Generale, made a comeback to positive results in the second quarter, but the balance sheet of the six months resulted in a slight loss due to the negative results in the first quarter.

Although the activity of the banking sector is continuing to improve step by step for a good part of the banks, especially the smaller ones, profitability is still a challenge.

Profits continue to be concentrated in three of the largest banking systems, which have a large customer base and a large portfolio of risk-free investments in bonds and bonds.

SCAN

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