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Albanian banking system garners profits despite bad loans in first seven months of year

Xinhua, September 13, 2016 Adjust font size:

The banking system in Albania saw marked improvement in the first seven months of 2016, according to official data released by the Albanian Association of Banks (AAB) on Monday.

According to the AAB, the profits generated by the banking system hit a value of about 4.3 billion lek (about 34.8 million U.S. dollars) during the January-July period.

However, bank profits dropped in July considering that from January to June, banking profits were 5.1 billion leks (41.2 million dollars).

Banking experts said the drop is due to an increase of non-performing bad loans in the same period, amounting to 21.2 percent of the total loan portfolio of Albanian banks. Endit