Nine banks report profit in Q1 2018: Albanian Association of Banks

The performance of the first quarter of the year has been positive for most of the banks operating in Albania.

According to the Albanian Association of Banks, out of 14 banks reporting data, 9 of them had a profitable result for the first quarter.

Profitability is higher in the largest banks of the system, but also in those banking groups that have been pursuing a growth trajectory and strengthening their positions in the market for the last few years.

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

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

BKT and Raiffeisen are the only banks with quarterly earnings above the 1 billion ALL threshold.

These banks have a significantly higher return than the rest of the system, thanks to the high market share and especially to low-risk investments, especially treasury bills and government bonds.

For the rest of the banking system, profits are in a more limited size, either in absolute value, or mature as a return on invested capital.

Credins Bank closed the first quarter with a profit of Lek 24 million, confirming this quarter’s positive performance since several years.

Even a large bank in the country, Intesa Sanpaolo, reported a profit at 534 million ALL.

Positive results were also registered by Societe Generale, Union Bank, ABI Bank, Fibank and ProCredit Bank.

Three Greek banks, Tirana Bank, Alpha Bank and NBG Bank closed with losses the first quarter.

NBG Bank, which is in the process of transferring ownership to ABI Bank, reported a loss of ALL 383 million.

Among smaller banks, the International Commercial Bank and Credit Bank of Albania closed the first quarter of the year with losses.

Even these two banks no longer have the ambition to stay in the Albanian market and are looking for potential buyers.

Veneto Banka and United Bank of Albania have not published data for the first quarter of the year.

SCAN

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