Page 142 - BKT Annual Report 2023 EN

73 BANKA KOMBËTARE TREGTARE
Notes to the Consolidated Financial Statements for the year ended 31 December 2023
(amounts in USD, unless otherwise stated)

A reconciliation of expenses related to write off of loans to customers is as follows:
Year ended Year ended
31 December 2023 31 December 2022
Write off of loans to customers, gross (553,170) (894,256)
Provision reversal of written off loans 519,666 784,202
Write off of loans to customers, net (33,504) (110,054)

30. PERSONNEL EXPENSES

Personnel expenses are composed as follows:
Year ended Year ended
31 December 2023 31 December 2022
Salaries 24,810,516 18,162,155
Performance bonus 3,872,551 3,440,519
Social insurance 2,709,016 1,895,621
Training 372,740 248,327
Life insurance 417,855 254,093
Other 5,333,913 3,682,705
37,516,591 27,683,420

31. ADMINISTRATIVE EXPENSES

Administrative expenses are composed as follows:

Year ended Year ended
31 December 2023 31 December 2022
Credit/debit cards expenses 16,503,905 12,744,641
Deposit insurance expense 12,680,586 10,670,735
Repairs and maintenance 4,405,629 3,377,371
Telephone, electricity and IT expenses 3,278,201 3,621,235
Other external services (including external audit fees) 3,179,970 2,650,700
BoA Extraordinary fund expenses 2,310,010 1,711,200
Security and insurance expenses 2,142,609 1,828,920
Marketing expenses 2,083,457 2,888,615
Transportation and business related travel 774,791 715,606
Representation expenses 664,996 308,412
Office stationery and supplies 397,931 363,966
Lease payments 387,312 73,045
Taxes other than tax on profits 369,206 961,197
Sundry 2,309,174 1,902,030
51,487,777 43,817,673

The law No. 25/2018 On Accounting and Financial Reporting requires the disclosure of the Audit fee related to the Statutory Audit. The
expense for statutory audit included in the Other external services (including external audit fees) amounts to USD 150,009.