Aggregate profit of 11 Albanian banks drops by 3.7% in Jan-Sep 2012.

By bne IntelliNews November 19, 2012
The aggregate profit of 11 Albanian banks declined by 3.7% y/y to ALL 10.2bn (EUR 73mn) in January to September 2012, according to IFRS data, reported by the Albanian Association of Banks. Sixteen banks operate on the market. The four financial institutions that have not been included in the aggregate data - Credit Bank of Albania, Credit Agricole, International Commercial Bank and United Bank of Albania have not presented data either for Jan-Sep of 2012 or for the same period of 2011. The value of banking assets increased by 10.9% y/y to ALL 1,175bn and in our estimates accounted for 86.4% of the projected full-year GDP. Loan stock expanded by 6.9% y/y to ALL 543.1bn. Austrian-owned Raiffeisen Bank - Albania, which held a top position in terms of assets (ALL 328.7bn), posted a net profit of ALL 4.5bn, down by 3.9% y/y. The top three included also Turkish-owned National Commercial Bank and the local subsidiary of Italy's Intesa Sanpaolo Bank. The aggregate net profit of these three lenders comprised 83% of the overall profit of the banking system (11 out of 16 banks), while in terms of assets, they held a market share of 60.2% as of end-September 2012.
Commercial bank performance in Jan-Sep 2012
Assets ALL mn y/y % Loans ALL mn Net profit ALL mn Outlet Numbers
Raiffeisen Bank 328,690 9.0 134,751 4,493 103
National Commercial Bank 237,086 24.7 88,846 2,542 82
Intesa SanPaolo Bank 141,484 4.0 49,049 1,424 31
Tirana Bank 98,772 4.5 55,862 442 56
Credins Bank 91,951 7.5 63,059 627 46
Alpha Bank Albania 77,084 2.1 38,126 5 42
Societe Generale Albania 62,647 19.8 33,088 316 43
NBG Bank Albania 41,907 8.1 26,964 237 27
ProCredit Bank 40,850 1.8 22,375 -96 39
Union Bank 26,292 11.3 13,177 26 29
Veneto Banka 17,055 34.5 12,080 109 11
First Investment Bank Albania 11,363 23.9 5,688 54 9
Credit Bank of Albania
Credit Agricole
International Commercial Bank
United Bank of Albania
Total 1,175,182 10.9 543,064 10,178 526
Source: Albanian Association of Banks, Intellinews calculations
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