There has been a significant reduction of the profits of the banks in North Macedonia in the first quarter of this year, and due to the coronavirus crisis, rise of the rate of the irrecoverable loans is expected, the new data of the National Banks reveal.

In the first quarter of 2020, total profits of the 15 banks in the country amounted to MKD 1.1 billion (€18.6 million), which is a decrease of MKD 751 million (€12.2 million), or 39.6% less than in the first quarter last year.