TIRANA, May 13 – France-based Credit Agricole has sold its Albanian subsidiary to U.S. based NCH Capital Inc, a private equity and venture firm mainly operating in Eastern Europe, for an undisclosed amount, France’s third biggest lender announced in a statement.
“This transaction has no significant impact on Credit Agricole’s solvency ratios,” Credit Agricole said.
Credit Agricole, which holds only around 2.6 of total assets and is the tenth biggest bank in Albania, completed the full purchase of Greek-owned Emporiki Bank Albania in June 2012.
Back in October 2012, Credit Agricole sold its troubled Greek banking arm Emporiki to rival Alpha Bank for a symbolic €1 after buying it in 2006 as part of its international expansion plan.
In Albania, NCH Capital Inc operates with its Tranzit non-banking financial institution offering various debt and and equity financing opportunities to companies and individuals.
Since 2007, NCH has owned and operated several enterprises across the SEE region that provide capital to companies and entrepreneurs in various industries including construction, tourism, real estate, oil & gas, financing and insurance institutions, cable and telecommunications, transportation, consumer products, agribusiness.
