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About 55 percent of Banks in Albania with capital from EU countries and Turkey

2024-04-05 13:52:25Biznes SHKRUAR NGA REDAKSIA VOX

Banks play a critical role in the development and functioning of a country's economy. Their main role is to collect deposits and provide loans. This function ensures liquidity in the domestic economy and encourages investment. But how is the ownership structure of the banking system in Albania? According to the data published by the Bank of Albania, the banking sector continues to be dominated by the subsidiaries of foreign banking groups, whose capital originates mainly from the EU. While there are 11 banks operating in our country, this number is unchanged from last year.

'Scan Intel' has analyzed the data of the institution of the Bank of Albania to understand how the composition of the banks' capital has changed over the years. Since 2015, the private capital of banks in our country mainly comes from EU countries and Turkey. Specifically, as in the previous year, a total of 6 banks operate in Albania, the capital of which is mostly foreign, among them 5 of the banks have capital from EU countries and only 1 of them has the majority of capital from Turkey .

Also, the data show that until 2021, banks with the majority of their capital from Saudi Arabia were present and offered services in our country. On the other hand, in addition to banks with a majority of private capital, we also have banks with more local capital, the number of the latter has increased from year to year. In 2015, only 3 banks with domestic capital were operating, in 2019, 4 banks were operating, and in 2023, a total of 5 banks were operating.

At the end of the analysis, we conclude that the presence of a higher number of banks that are led by foreign capital compared to banks with domestic capital shows that foreign investments in the banking sector of Albania reflect the confidence of foreign investors in the growth and development potential of the country's economy.


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