TIRANA, April 12 /ATA/ The banking sector reported a profit of ALL 2.3 billion, for the period January-February 2022.
The Bank of Albania announces that, compared to the period January-February 2021, the profit of banks recorded a decrease of approximately 27%.
Banking experts say that the decline in profits may be related to a more cautious approach that the banking system is taking against the rising risks associated with high inflation.
According to the main indicator that measures the quality of banking sector assets, the ratio of non-performing loans has not currently increased.
In February 2022, non-performing loans marked another slight decline, while income and expenditure statistics are not yet detailed, although expectations are for positive figures.
Legal reporting standards for banks are the International Financial Reporting Standards (IFRS) and are intended to oversee and guide the system performance trend.
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