Aggregate profit of 12 Albanian banks grows by 30.3% in 2010.

By bne IntelliNews March 7, 2011
The aggregate profit of 12 Albanian increased by 30.3% y/y to ALL 12.3bn (EUR 87.7mn) in 2010, the Albanian Association of Banks said. We remind that 16 banks operate on the market. The four that have not been included in the aggregate data - Alpha Bank, Credit Bank of Albania, United Bank of Albania and Veneto Banka (former Italian Development Bank) - did not present data either for 2010 or comparable data for 2009. The value of assets rose by12.4% y/y in 2010 and accounted for75% of the full-year GDP projection. Austrian-owned Raiffeisen Bank - Albania, which held a top position in terms of assets (ALL 277bn), posted a net profit of ALL 5.4bn in 2010, up 16% y/y. The profit of the second-largest financial institution, National Commercial Bank, more than doubled to ALL 2.6bn. Intesa Sanpaolo Bank, ranking third in terms of assets, reported a net profit of ALL 1.9bn, or 18% higher on the year. We note that the aggregate net profit of the top three lenders comprise 80% of the overall profit. In terms of assets, the three banks hold a market share of 61% as of end-December.
 Commercial bank performance, 2010
  Assets ALL mn y/y % Loans ALL mn Net profit ALL mn Outlet Numbers
Raiffeisen Bank Albania 276,531 9.8 106,893 5,359 103
National Commercial Bank 156,302 21.7 57,309 2,600 72
Intesasanpaolo Bank Albania 125,725 6.1 48,883 1,916 32
Tirana Bank 90,937 7.1 62,864 1,500 56
Credins Bank 70,989 41.6 40,229 689 41
Societe Generale Albania 46,673 19.3 20,909 -132 41
ProCredit Bank 41,025 -0.5 23,354 104 40
National Bank of Greece Albania 40,243 -9.3 34,761 149 30
Emporiki Bank Albania 34,194 14.0 24,729 83 20
Union Bank 21,370 27.7 10,522 103 30
First Investment Bank Albania 7,743 32.0 3,126 -195 9
International Commercial Bank 7,137 5.6 2,189 122 8
Alpha Bank Albania - - - - -
Credit Bank of Albania - - - - -
United Bank of Albania - - - - -
Veneto Banka - - - - -
Total 918,866 12.4 435,769 12,297 482
Source:  Albanian Association of Banks, Intellinews calculations

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