TIRANA, May 31 /ATA/ – Albania’s banking industry maintained an upward trend and positive financial performance in the first quarter of 2024.
Data from the Bank of Albania show that the banking system assets totaled 1.985 trillion lek in the end of March up by around 15 billion lek since beginning of the year.
Albania’s banking system assets grew 6.1% year-on-year in first quarter of 2024, marking a significant increase taking into account the negative impact of the exchange rate on the foreign currency-denominated assets.
Lending portfolio amounted to 739 billion lek in the end of March increasing by 21 billion lek since the beginning of 2024 and by 7.1% compared to the same period a year ago.
Banking system reported net profits of 9.8 billion lek, making an increase of 24% compared to the first quarter of the previous year.
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