Albanian banks made 210 million euros this year, a 25% increase over 2021

 A woman counting money at a money exchange center in Tirana

 Business banks in Albania have accomplished record benefits in 2022.

The value derived by the bank association for the collective profit of all 11 banking institutions in the country is 23.8 billion ALL, or 210 million euros, representing a 25% increase over 2021.

Primer assessments from the financial affiliation show that this high rate was affected by the extension of resources and the advance portfolio, keeping up with the nature of the credit portfolio, yet in addition by the constructive outcome achieved by the fast expansion in loan fees, local specialised media say.

With an annual growth rate of 6.8%, the net loan portfolio, which is always measured using IFRS standards, reached almost ALL 692 billion. despite the fact that the percentage of bad loans is at its lowest level in history, at 5%.

Even when compared to the time before the pandemic, the banking industry's profitability has increased, indicating the sector's positive performance, particularly in the past two years. The structure says that three out of 11 banks got 70% of the profits last year, and a group of medium-sized banks saw a better market performance.