Intesa Sanpaolo Bank Albania posts 15.7% rise in operating profit it Jan-Sep.

By bne IntelliNews November 15, 2010
The operating profit of Intesa Sanpaolo Bank Albania increased by 15.7% y/y to EUR 18mn in Jan-Sep, the banks parent company said. The positive outcome stemmed from a 4.6% y/y increase in revenues as a result of favorable foreign exchange operations and more effective management of the treasury. At the same time, the banks operating costs dropped by 7.9% y/y on the back of a sharp decrease in administrative expenses. Net income grew by 19% y/y to EUR 12mn. Intesa Sanpaolo Bank Albania, controlled by Italys Sanpaolo Bank, is the third-largest lender on the local market, preceded only by Raiffeisen Albania and Turkish-owned National Commercial Bank.

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