Immigrants transfer home 100 mln euros to Greek banks

TIRANA, Jan. 22 – During the summer of 2010, Albanian immigrants who live and work in Greece transferred 100 million euros to Greek banks in Albania, the manager of Emporiki Bank Albania, George Karakostas recently told the Greek Reporter. “It proves that Albanians trust Greek banks located in their country, especially during the nation’s financial crisis. The Governor of the Central Bank of Albania, Ardian Fullani, stated in 2009 that Greek banks function normally in Albania and that deposits are safe,” said the Greek website.
Emporiki Bank Albania has twenty branches and four bank counters to cover over 82% of the Albanian population, as well as an important market share. The system of Emporiki Bank of Greece allows Albanian citizens who live and work in Greece to open any type of account at Emporiki Bank Albania, with competitive rates of interest.
Few days ago, a high level delegation of the Greek central bank visited Albania to discuss the economic and financial developments focusing on banking groups operating in both countries. Describing Greek banks operating in Albania as an important and integral part of the country’s financial sector, Albanian central bank governor Ardian Fullani called on their directors to continue increasing lending without affecting the loan quality and transparency to customers.
Greek-owned banks in Albania comprise 25 per cent of the country’s banking assets and hold 38 per cent of the loans. Currently, three Greek-owned banks operate in Albania where Emporiki is listed as a French capital bank as part of the Crꥩt Agricole international banking group, which holds around 82,479% of the Bank’s share capital.