The profit of the banking sector is increasing rapidly this year. Until the end of August, they collected 20.8 billion ALL, this income is about 90% greater than the first 8 months of 2022.

Banks are experiencing a good period, as they see that their profits are growing at a fast rate. Data from the Bank of Albania show that from January to August, the net profit of the system reached 20.8 billion ALL, with an increase of 87% compared to the same period last year.

Figures so far show that the profit of the banks is increasing beyond last year’s performance. The increase in interest rates by the central banks in the first phase, as expected, had a positive impact on the performance of the banks, expanding the net result from interests.

On the other hand, the quality of the loan portfolio is not giving a negative impact on the financial result.

We remind that commercial banks achieved record profits for the entire year 2022, collecting 23.8 billion lek, or 210 million euros.

According to the structure, 3 out of 11 banks shared 70% of the profits last year, while it is noted that a group of medium-sized banks saw an increase in market performance.