Text and photo by Artan P쳮aska
apernaska@tiranatimes.com
The Bank of Albania (BoA) is the central bank of Albania and the leading banking institution in the country. It is a first level bank. A second level banks’ network has emerged in Albania since 1992. During the communist era the banking sector was under complete control from the state and no private banks were allowed in Albania. The Union of Savings with its omnipresent network (Arkat e Kursimeve) operated like a second level bank and was a very popular financial institution in the country during the communist era, but it operated within the framework of a very restrictive economic system and almost sterile economic regulations.
Nowadays, second-level banks operating in Albania have formed the Albanian Association of Banks. The association was created in 2001, almost two years after the foundation of the Albanian Bankers Club. Today this association groups 16 banks: Alpha Bank – Albania; Banka Komb쵡re Tregtare; Banka Popullore; Credins Bank; Credit Bank of Albania; Emporiki Bank – Albania; First Investment Bank- Albania; International Commercial Bank; Intesa Sanpaolo Bank – Albania; Italian Development Bank; National Bank of Greece – Albania; ProCredit Bank; Raiffeisen Bank – Albania; Tirana Bank; Union Bank and United Bank of Albania. The majority of the banks are foreign-owned and only three banks are reported to have or have had Albanian shares. Some of the leading Greek banks are present in Albania through affiliate branches or shares. They form the preponderant group of foreign-owned and foreign-controlled banks in Albania. Austrian, German, French and Italian subsidiary banks or share-holders are also present in Albania. Data from the Albanian Association of Banks show the Raiffeisen Bank – Albania (subsidiary to the Raiffeisen International controlled by the Raiffeisen Zentralbank) susceptible of having the largest presence in Albania. Cities like Tirana and Durr쳬 Elbasan, Fier and Kor諠top the list of banking poles and host branches or counters from the greater number of banks operating in Albania (Tirana has offices, branches or counters of all banks).
ALPHA BANK – ALBANIA
“Alpha Bank – Branch Albania” is an emanation of the Greek Alpha Bank Group.
Alpha Bank counts 426 branches in Greece and 42 branches in Albania, out of a total of more than 1000 branches worldwide. The Albanian branches represent almost 1/10 (one tenth) of the Greek bank’s activity at home. Alpha Bank is also present in Bulgaria, Cyprus, Macedonia, Romania, Serbia, the United Kingdom and Ukraine. In November 2008, Alpha Bank celebrated the tenth anniversary of its establishment in Albania. The bank indicates that the “construction of the national road Durres-Morina and the construction of the new Tirana International Airport (Mother Tereza) have been financed by Alpha Bank – Albania, in cooperation with the Albanian Government”. Alpha Bank was founded in 1879 in Greece and boasts of being one of the largest banks of the neighboring country.
In reports concerning Alpha Bank Group activity in 2008, Albania is depicted in a leading position towards the whole pan of countries where the bank has activity and has registered increased performance indicators in all the listed columns as well as finds itself on top of the previsions. According to the bank, in 2008 deposits to Alpha Bank – Albania have increased by 25 % and loans by 87 % (Accounting period: from December 2007 to December 2008). The total of deposits amounts to 456 million Euros, while the total of loans 478 million Euros and represents an almost balanced ratio between deposits and loans volume.
To be continued Š(In the following issues of Tirana Times you will read further insights on each of the second-level banks quoted in this page).
