Private banks increase profits during January-March 2016

Tirana, Albania
11 May 2016

A recent report published by the Albanian Association of Banks says the profits of private banks during the first quarter of 2016 increased. According to the report, 11 private banks among 16 reported an increase of profits for January – March 2016 period, compared to the last quarter of 2015.

However, compared to January – March 2015, banks’ profits decreased slightly given that the amount of nonperforming loans increased to 19% in the first quarter of 2016.

Private banks which reported positive earnings during the first quarter of this year are Banka Kombetare Tregetare, Intensa Sanpaolo, Credins bank, Societe Generale, NBG and ProCredit while Raiffeisen Bank, Tirana Bank and Alpha Bank reported negative earnings.

News source: ATA
Photo credits: VisualHunt