The net profit of banks in Albania during 2023 was 280 million euros. Last year’s profits constitute an absolute record in this sector, which has not been achieved in any of the previous years.

The data comes from the Albanian Association of Banks and this result is due to the increased profits from the increase in basic interest rates.

Eleven banks operate in Albania, which together have assets of around 19 billion euros.

In their annual activity, all 11 banks closed a part of branches and increased the number of employees.

Their assets increased by 5%, shareholders’ equity increased by 8%, while profits increased by 19%.

The increased profits of the banks seem to have come mostly from the increase in public debt interests, but commissions and fines also occupy a significant profit space.

Likewise, the decrease in the level of non-performing loans from 5.25% at the beginning of the year to 4.7% in December translates into a better financial result for the sector.