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.
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Albania has called a tender to select a company to supervise the construction and supplies for a sewerage system and waste water treatment plant in Velipoja area, the European Commission informed ... more
The Albanian government has approved changes in the concessionary agreement for the Devoll Hydropower cascade, which formally enables Austrian EVN to exit from the project, the cabinets press ... more
The economy and finance committee of Albanias Parliament has approved a EUR 12.7mn loan from the European Bank for Reconstruction and Development (EBRD) to be used to fund a project for upgrading ... more