The net profit of Albanian banks rose to Lek 12.5 billion (Dollar 134 million/Euro 125 million) in the first four months of 2024, from Lek 9 billion reported for the same period of last year, the Albanian Association of Banks (AAB) said.

The outstanding loan portfolio of banks in the country totaled Lek 766.4 billion at the end of April, an increase from Lek 710.3 billion a year earlier, AAB said in a monthly report last week, quoting Albanian central bank data.

Deposits in Albanian banks increased 6% to Lek 1,600 billion as at the end of April. The total assets of the country's banking system grew to Lek 1,973 billion, from Lek 1,862 billion as at the end-April 2023.

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 first quarter, according to earlier disclosed data.

Earlier this month, Governor Gent Sejko underlined the stability of the banking sector, reflected in the improvement of the indicators of capitalization, profitability, as well as the quality of the loan portfolio, with the indicator of problem loans at the level of 4.8%. These positive trends enable the banking sector to supply the economy - efficiently and continuously - with financial funds and payment and savings instruments.