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ALBANIA |
Best Bank: OTP Bank Albania | |
Albania has emerged as one of the most desirable smaller markets in central and eastern Europe, and Hungarian banking group OTP has worked to secure a stronger footing in the country, including through its acquisition of the Albanian business of Greece’s Alpha Bank. The legal merger was completed in December 2022.
OTP Bank Albania’s profitability metrics were already good before the merger. Its standalone net profit reached L3 billion ($30.7 million) in 2022, an increase of 61% year on year, giving it a cost-to-income ratio of 44% and a return on equity of 27.5%.
Post-merger, OTP Bank Albania now enjoys a top-three position in loans.