Share of non-performing loans in Albania picks up to 22.95% in Nov 2012

By bne IntelliNews January 4, 2013
The Albanian subsidiary of Greek Alpha Bank turned to a pre-tax profit of EUR 0.9mn in January to September 2012 from a pre-tax loss of EUR 10.4mn in the same period of 2011, the parent bank said in a report. The positive outcome was due to better operating performance coupled with lower impairment losses. In particular, the banks operating income grew by 34.6% y/y to EUR 15.6mn. Provisions were down to EUR 4.4mn in Jan-Sep 2012 from EUR 11.2mn a year earlier. In addition, the lender cut its operating expenditure by 5.6% y/y. Lending decreased by 7% to EUR 377mn, with business loans declining 6.5% y/y to EUR 266mn and mortgages down by 7.6% to EUR 104mn. Alpha Bank controlled 9.4% of the market in terms of loans, down from 10% at end-2011 and 10.7% at end-September 2011. The bank has attracted EUR 450mn in deposits, down by 0.9% y/y. The lender had 380 employees and operated a network of 42 branches throughout the country at end-September.
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