FLASH
Shkruar nga Pamfleti
You enter a business to win. The banking business, for example, is an enterprise that sells and buys the savings of Albanian citizens. So it deposits their savings and gives loans for the needs of customers, including individuals and businesses. But how is the profit ensured? Simply put, banks' profit is the difference between interest earned on loans and interest paid on deposits.
The profit of the banking sector marked a strong growth in the first half of this year. The central bank says that the net profit of the sector marked an increase of 127%. So for every 100 Euros invested, 127 Euros were earned. Analysts underline that the growing results of the banks have been supported in parallel by the increase in net interest income and by the increase in other income.
Only interest for loans received and other banking services, Albanians have paid net commercial banks 33.2 billion lek, or 34% compared to a year ago, for 6 months. The changes in the exchange rate are also reflected in the variable interest loan rates of the banking sector. But also on the deposit side. Thus, banks have paid, for interest, approximately 50% more, compared to a year ago. We are not talking here about a high increase in other income, not from interest.
But we are showing that these revenues have increased by 204% compared to a year ago. It is precisely the increase in these revenues, taken together, that has influenced the increase in profit, despite a parallel increase in expenses. The latter increased by only 11% compared to a year ago and are mainly related to the increase in provisions for non-performing loans. Which in turn have decreased continuously, also influenced by the exchange rate of the euro in the market, when the loans are in euros.
According to data from the Albanian Association of Banks, the reported figures show that the progressive net profit at the end of the six months reached 13.6 billion ALL, or 131 million Euros. In absolute value, the profit of the banking sector touched a new historical record for the first 6 months of the year. Out of 11 banks in the sector, 10 of them were profitable.
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