Albanian lender BKT says profit rises 5.1% y/y in 2012.

By bne IntelliNews March 14, 2013
Albania's second-largest lender by assets National Commercial Bank (BKT) said its net profit increased by 5.1% y/y to USD 30.9mn in 2012 pushed up by higher net interest margin, which increased by 8.3% y/y to USD 71.4mn. The banks interest income was up by 14.1% y/y in 2012 and interest expense advanced by 20.8% y/y. On the other hand, total net non-interest income dropped by 10.7% y/y to USD 7.9mn as the lender booked FX revaluation losses and lower profit from FX trading activities. Total operating expenses advanced at a slower pace, by 7.2% to USD 40.4mn. Loan impairment totalled USD 4.2mn in 2012, up from USD 4.1mn a year earlier. The stock of bank assets stood at USD 2.34bn at end-December 2012, up from USD 1.86bn a year earlier. Loans to customers advanced by 9.8% y/y, accounting for 36.5% of total assets at end-2012. Deposits increased by 19.2% y/y to USD 1.88bn. BKT was Albanias second-largest bank by assets at end-2012, preceded only by the local unit of Austrias Raiffeisen Bank, data from the Albanian Association of Banks showed. BKT is owned by Turkish holding group Calik. British financial magazine Euromoney named BKT as the best bank in Albania for 2012.
National Commercial Bank performance
USD '000 (except percentages) 2011 2012 y/y change
Balance sheet total 1,864,689 2,337,314 25.3
Loans to customers 778,063 854,186 9.8
Investment in securities 641,209 858,242 33.8
Total deposits 1,581,303 1,884,888 19.2
Share capital 100,000 100,000 0.0
Total shareholders' equity 138,165 184,304 33.4
Net profit (USD mn) 29.4 30.9 5.1
Net interest margin (USD mn) 65.9 71.4 8.3
Source: National Commercial Bank

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