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TIRANA, March 10 – The country’s largest oil importer, Taci Oil, has taken over Credit Bank of Albania from Kuwait-based Al-Kharafi & Sons Company for an undisclosed sum, according to the local media.
“The process of buying this bank, even with the difficulties faced during the negotiation phase, has been finalized with success, making our company the owner of an important bank,” a representative of Taci Oil was quoted as saying.
Credit Bank, which has two branches and 34 employees, is the smallest lender in the market, with assets of USD 19.1 million representing 0.23 percent of the banking system.
