Albanian Credins Bank posts USD 12.9mn profit in Jan-Sep 2011.

By bne IntelliNews October 31, 2011
Albanian Credins Bank posted a profit of USD 12.9mn in the first nine months of 2011, the lender said on its website without giving comparative figures. The banks total assets stood at USD 879.4mn and its gross loan portfolio totalled USD 600.7mn. The share of non-performing loans was 9.21%, well below the average for the Albanian banking system. Credins, which was the first privately-owned bank in Albania, is the fifth largest lender in terms of assets as of end-June 2011, according to the latest data of the Albanian Association of Banks. Investor Aleksander Pilo owns a 25.18% stake in the bank, Renis Tershana has 24.72% and Netherlands-based Balkan Financial Sector Equity Holding owns 22.17%. Rating agency Moodys assigned first-time ratings of Credins Bank in June 2009. The bank was assigned E+ bank financial strength rating (BFSR), B1/Not Prime local currency deposit ratings and B2/Not Prime foreign currency deposit ratings.

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