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Banks in Albania report profits for the first quarter of 2017

Banks in Albania report profits for the first quarter of 2017
The banking system in Albania has ended the first quarter of the year with a net profit of 5.77 billion ALL. According to the official data by the Bank of Albania, profits for banks have increased four times as opposed to the same period a year ago.

One of the main reasons which has contributed to this growth is the reduction of the rate of nonperformance loans during the first quarter.  At the end of March, this rate went down to 17.4% and this is the lowest level in the past seven years. For the third quarter of the year, banks spent 939 million ALL on provisions, while a year ago, this amount was 2.9 billion ALL.

Governor of the Bank of Albania, Sejko said that further reduction in nonperformance loans is an important condition for a more lending by banks, although even during the first quarter of this year, lending was slow. /balkaneu.com/

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