Country Awards for Excellence 2022: Central and Eastern Europe
Best Bank: OTP Bank Albania
Outstanding financial results, as well as impressive business and operational development, see OTP Bank Albania take the award for Albania’s best bank again this year.
Its net profit in 2021 more than doubled to L1,912 million ($17 million). This was partly due to lower provisions.
Other banks – including Raiffeisen Bank Albania – saw similar increases, but OTP Bank Albania remains the more profitable lender, with a return on equity of 18.5%.
The bank, led by chief executive Bledar Shella, saw its cost-to-income ratio fall by 212 basis points to 46.6% thanks to rising net banking income. And while other top-tier banks in Albania still have a larger share of local banking assets than OTP, its market share in loans grew by 71bp to 11.5%.