The net profit of Albanian banks rose to Lek 28 billion (Dollar 306 million/Euro 285.85 million) in the first nine months of 2024, from Lek 22 billion in the prior-year period, the Albanian Association of Banks (AAB) said.

In the third quarter alone, the banks' net profit rose 14.8% year-on-year to Lek 8.6 billion, AAB said in a quarterly report earlier this week, quoting Albanian central bank data.

The outstanding loan portfolio of banks in the country totaled Lek 787.8 billion at the end of September, rising from Lek 700.8 billion a year earlier.

Deposits in Albanian banks increased to Lek 1.7 trillion as at end-September, from Lek 1.6 trillion a year earlier.

The total assets of Albania's banking system grew 7.2% year-on-year to Lek 2.06 trillion as of September. The figures comprise the financial results of eleven Albanian banks. Banka Kombetare Tregtare (BKT) was the largest among them in terms of assets at the end of the third quarter.