TIRANA, July 4 – The central bank of Albania said on Wednesday that it is open to opinion on the sale of 75.006 percent of the shares of Banka Popullore to the French bank, Societe General S.A. based in Paris.
The remaining 24.99 percent of the shares will continue to belong to the nine Albanian shareholders who founded the bank.
The ownership transferred to the French bank is equal to 11.056 shares.
Societe Generale announced the acquisition of 75.006 percent of the capital of Albania’s Banka Popullore in April. With almost 1 million clients and 238 branches in this region, French banking will become the third largest European holder of franchises after the Czech Republic (Komercni Banka) and Romania (BRD) Banka.
Popullore is a dynamic universal bank, founded in March 2004. Within three years, the bank created a significant network across Albania and attained a market share of five percent.
Banka Popullore offers services and products to 42,000 customers through a 30 branch network, and employs 280 persons. Its total assets reached 230 million Euro at the end of 2006. Societe Generale’s know-how, technology, and international network will enable Banka Popullore to pursue its development.
The Albanian economy is performing well thanks to reforms launched a decade ago to open and liberalize its market economy.
