The annual report of Bank of Albania performance during the past year shows that its net profit in annual terms reached 1.3 billion ALL. The report was issued by the Supervisory Board of the Bank of Albania after approving the Financial Statement and the report on the internal audit for 2014.
The net profit has exceeded the annual predictions of the Bank, as shown in the report. At the end of the past year, the total amount of Bank’s actives was 433 billion ALL, about 37 billion ALL more than the actives at the end of 2013.
Some of the applied policies by the Bank which led to the increase of profits were the buying of foreign bonds which are part of the Bank’s portfolio of the currency reserves management. Another reason that has affected in the increase of profits, according to the Bank’s report is the reduction of expenses by the institution. Pursuant to the law “For the Bank of Albania” within the first four months of this year the Bank will allocate to the state budget the remaining profit of 951 million ALL.
According to Bank’s press release, the most important objective is the conduction and the reporting of the financial statements during 2015, in accordance to the international standards regarding accounting and the financial reporting. Experts of the Bank say that for this year, the approved project by the Supervisory Board is expected that the Bank will have a minimum profit of 76 billion ALL during 2015.