9 minutes agoBanks in Kosovo with record profits
Periskopi(4 years ago)
(4 years ago)The banking sector in the first half of 2022 achieved profits worth 67.5m euros, the highest registered value since the establishment of the banking sector for the first quarter period. So says the CEC report on the quarterly assessment of the economy, for January-June 2022. This financial outcome is attributed [...]
This financial outcome is attributed to higher income growth, supported by accelerated credit growth, and at the same time lower spending increases.
“All revenues reached the value of 168.9m euros, which represents an annual increase of 11.6 per cent (11.1 per cent year ago). In the increase in revenues, the main contribution was interest revenues, representing 71.2 per cent of total revenues. In terms of interest revenues, cash collections from interest to credit had the main contribution to this increase, a category influenced by the significant increase in credit. In contrast with past periods of high growth, incomes from interest kept in other banks may have been influenced by increased interest rates in deposits. While the non-interest income category marked slower growth compared to the previous year, of 13.3 per cent (23.9 per cent in June 2021), and reached the value of 42.1m euros mainly the result of tariff collections and commissions”, the report said.
In contrast to last year, total banking sector spending rose 6.1 per cent by June 2022 (point of 1.1 per cent in June 2021) and reached a total of 101.4m euros.
