Artan P쳮aska
apernaska@tiranatimes.com
(Continued from the previous issues)
Tirana Bank S.A.
Tirana Bank is reported to have been the first privately owned bank in Albania (with a universal bank license). The bank opened in September 1996 with a registered office in Tirana and has had progressive growth. Today, the bank controls a substantial position in the local banking market. Tirana Bank S.A. is based in Tirana and operates a network which constantly increases in number. The last report from the bank counts 46 branches and 43 ATMs.
Based on its own reports, as of late June 30th 2008, the bank had 16 counters in Tirana and 283 counters in other Albanian cities and employed 485 employees, while the bank’s market share in local loans market was estimated at 15.2%. Its assets reached 672 million. In 2008 – 2009, new branches were opened and their ATM network was further expanded.
Tirana Bank offers all the traditional banking services and in 2004 launched an international VISA debit card. The same year Tirana Leasing was established (October 2004), with the aim of providing a full range of banking services. The company’s total assets at the end of June 2008 amounted to 16.2 million.
Piraeus Bank Profile
Established in 1916, Piraeus Bank (PB) went through a period of state-ownership and management (1975-1991) before it was privatized in December 1991. Since then, it has continuously grown in size and activities.
In 1998, PB absorbed the activities of Chase Manhattan in Greece, took over controlling interest in Macedonia-Thrace Bank and acquired the specialized bank Credit Lyonnais Hellas. In 1999, PB acquired Xiosbank and absorbed the activities of National Westminster Bank Plc in Greece. In 2000, PB unified its three commercial banks in Greece (Piraeus Bank, Macedonia-Thrace Bank and Xiosbank), creating one of the three largest private sector banks in Greece.
In 2002, PB acquired the Hellenic Industrial Development Bank (ETBAbank). ETBAbank was absorbed by PB in December 2003. In 2002, a strategic alliance agreement for the Greek market was signed between Piraeus Bank Group and ING Group, focused in the field of bank-assurance, which was renewed for 10 more years in October 2007.
In 2005, PB acquired the Bulgarian Eurobank (renamed Piraeus Βank Bulgaria), strengthening its presence in Bulgaria, while the merger of PB branches in Bulgaria with Eurobank was completed in 2006. Furthermore, in 2005, it entered into the Serbian market by acquiring Atlas Bank (renamed Piraeus Bank Beograd), and into the Egyptian market by acquiring Egyptian Commercial Bank (renamed Piraeus Bank Egypt). In 2007, PB expanded its international presence in Ukraine by acquiring the International Commerce Bank (renamed Piraeus Bank ICB) and in Cyprus (Piraeus Bank Cyprus) by getting the approval to operate a banking institution and by the acquisition of the Arab Bank Cypriot network.
PB Group has a growing international presence, focused in Southeastern Europe and Eastern Mediterranean, but also in the financial centers of London and New York. The Group is present in the USA through Marathon Bank, based in New York with 14 branches, in London with a branch of Piraeus Bank, in Albania through Tirana Bank with 45 branches, in Romania through Piraeus Bank Romania with 180 branches, in Bulgaria with 94 branches of Piraeus Bank Bulgaria, in Serbia with 47 branches of Piraeus Bank Beograd, in Ukraine with 85 branches of Piraeus Bank ICB, in Cyprus with 14 branches of Piraeus Bank Cyprus and in Egypt with 57 branches of Piraeus Bank Egypt.
Piraeus Bank Group is currently present in 9 countries. At the end of December 2008, Piraeus Bank Group had a network of 895 branches (358 in Greece and 537 abroad) and employed 14,255 people.
PB international network gives the bank privileged access to the local financial as well as real estate markets.
Piraeus Bank – Analyses & Data on Albania
According to the PB report of January 2007, unemployment in Albania counts for 14 % of the working-age population in 2006-2007.
In 2008 Tirana Bank had assets counting 677 million Euros, loans counting 469 million Euros, and deposits counting 426 million Euros.
This data compared to Alpha Bank – Albania, whose total of deposits for 2008 amounted to 456 million Euros, while the total of loans was 478 million Euros. Both banks represent 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 the second-level banks operating in Albania).
