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BERZH reports record profits for 2021

2022-04-07 20:47:10Biznes SHKRUAR NGA REDAKSIA VOX

BERZH reports record profits for 2021

The European Bank for Reconstruction and Development, one of the largest creed institutions in Albania, has recorded its highest ever profit, according to new 2021 results released this Thursday. The figure of 2.5 billion euros exceeds the previous record, set in 2006.

The BERZH recently announced a 2 billion-euro economic resistance package to help Ukraine and neighbouring countries affected by the Russian invasion. However, the Bank is also stressing that the war in Ukraine is likely to have a significant impact on 2022 financial performance. The BERZH has a large portfolio of investments and shares in Ukraine, as well as a portfolio in Belarus and Russia.

The Bank's record results for last year were mainly due to the excellent performance, according to it, of capital investments across its activity regions.

The BERZH invests mainly in the private sector, with the aim of supporting the transition towards market economies. Its capital investments recorded a profit of about 30 percent (1.7 billion euros) – increasing roughly at triple the rate compared to the 2021 capital growth standard in BERK economies.

Reducing expected credit losses has also contributed to the profit scale. The ratio of troubled loans (NPL) fell compared to the end of 2020, as economies returned from the Covid-19 pandemic.

At the end of 2021, berzh had a capital base of 20.3 billion euros and the Bank operates well more than the triple A requirements set by the rating agencies. The bank expects to remain strongly capitalized, despite the economic consequences of the war. Rising costs for energy and food as a result of the war, and the potential for higher interest rates, are likely to have an impact on the economies where the Bank operates.


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