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Albania’s Financial Institutions Face Heightened Regulatory Scrutiny Amid Global Uncertainty

Banking Sector Evolution and Regulation

TIRANA, ALBANIA - As Albania’s banking sector continues to evolve, regulatory bodies are tightening their grip on financial institutions in a bid to ensure stability and compliance with international standards.

Private Banking Sector

According to Law 9662, “On Banks in the Republic of Albania,” the banking sector is fully private, comprising 14 operational banks. The Turkish National Commercial Bank holds a significant market share of 31%, followed by Austria-based Raiffeisen Bank (16%) and local bank Credins (14%). Greek banks have seen their market share decline to 5.6% in recent years.

International Ownership

The American Bank of Investments (ABI Bank), owned by New York-based NCH Capital Group, remains the only U.S.-owned financial institution in Albania’s banking sector. ABI Bank acquired National Bank of Greece in early 2018, while Hungary’s OTP Bank Group completed its purchase of Societe General Albania in 2019.

Banking Sector Performance

Despite a challenging economic environment, Albania’s banking sector has maintained its stability, boasting profits of around $82 million in 2018 and a capital adequacy ratio of 17.9%. Total bank sector assets reached $12.7 billion at the end of 2018, with deposits making up the majority.

Regulatory Framework

The Bank of Albania (BOA) has strengthened its supervision rules over banks in response to the global financial crisis and regional banking risks. The regulatory framework is aligned with international best practices, ensuring a robust and secure environment for financial institutions operating in Albania.

Non-Banking Financial Institutions

In addition to commercial banks, there are 31 non-banking financial institutions and 14 savings and loan associations serving medium-sized businesses that are not adequately served by the commercial banking sector. These institutions offer loans ranging from $1,000 to $500,000.

Opportunities for U.S. Companies

The U.S. Commercial Service, with its global presence and international marketing expertise, can assist U.S. companies looking to expand their operations in Albania. For more information, contact your local U.S. Commercial Service trade specialist at http://export.gov/usoffices.