Tuesday, April 15, 2008

Bank assets rise to EUR 6.3bn as of end February.

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Bank assets rise to EUR 6.3bn as of end February. The stock of bank assets have reached as much as ALL 768bn (EUR 6.3bn) as of the end of February, shows the latest data release of the Albanian Association of Banks, quoting unaudited figures of the central bank. In our calculations, assets have expanded by more than 21% in an annual comparison, taking into account the unaudited monthly figures reported last year. Assets also come up to as much as 71% of the full-year GDP projection. It has to be noted, however, investments in government securities of the 17 commercial bank operating on the market account for a considerable share of the total (about 35%). Claims on the private sector make up another 38%, while 15% were comprised of foreign assets. At the end of last month consolidated assets amounted to ALL 731bn. In addition, the association data revealed that commercial loans have surged by some 50.8% in February, reaching ALL 307bn (EUR 2.5bn) . The corporate sector made up the larger 64% of the commercial loan portfolio, while retail loans accounted for 36% of the total. On the other hand retail deposits comprised the bulk (84%) of the total deposit stock worth ALL 640bn at the end of February.

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Bank assets rise to EUR 6.3bn as of end February.

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