Intesa Sanpaolo Bank Albania net income grows 18% in Jan-Sept 2011.

By bne IntelliNews November 10, 2011
The Albanian unit of Italian Intesa Sanpaolo Bank posted a net income of EUR 13mn in the first nine months of 2011, up from EUR 11mn a year ago, the parent bank said in its Q3 financial report. The banks operating income stood at EUR 30mn, down by 0.2% y/y. The operating costs decreased by 9% y/y to EUR 11mn, due to lower administrative and personnel expenses. The operating margin thus picked up by 6% y/y to EUR 19mn. Intesa Sanpaolo Bank Albania is the third-largest lender on the local market in terms of assets, preceded only by Raiffeisen Albania and Turkish-owned National Commercial Bank.
Intesa Sanpaolo Bank Albania, Jan-Sep results, (EUR mn)
2010 2011 change y/y
Operating income 30 30 0.2
Operating costs 12 11 -9.0
Operating margin 18 19 6.0
Pre-tax income 14 13 -7.5
Net income 11 13 18.0
Source: Intesa Sanpaolo presentations
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