AlbanianEconomy.comYour News from Albania
Albania Banks Net Higher Profits (table)
Tirana, July 31, 2008 (AE) – Banks in Albania managed to earn 660 million lek, (5 million euro) in the first six months of 2009, thanks to better results achieved in June, statistics published from Albanian Banks Association shows.
The earnings are a tiny fraction of the 5.7 billion lek (46.2 million euros) that the sector earned in the first half 2008, but according to experts, it give hopes that the worst impact on the local sector from the global financial crises had passed.
Nonperforming loans and writes offs, the factors that created sharp looses during the last few months, showed some improvements in June.
Decreased deposits pose the main concern now for the banks and the economy in general. Customer’s deposits decreased by 3 per cent to 5 billion euro in June 2009 compared with the same period in 2008.
The loan portfolio continued to rise despite the fact that new loans are growing at much slower paste than in 2008.
Banking sector indicators
Month January February March April May June
Nonperforming loans % 6.8 7.8 7.6 8 8.9 8.7
Net profits (End of period) 744 -209.5 274.9 -868.9 -272.8 659.8
ROA 1.1 -0.2 0.1 -0.3 -0.1 0.2
ROE 12.3 -1.9 1.5 -3.5 -0.9 1.8
Source: Albanian Banks Association (Unaudited data)
Other Articles
Leave a Reply
