Tirana, Dec. 30 (AENews) – The National Commercial Bank (BKT) (Albania’s second biggest bank in assets), announced it has increased its paid up capital by USD 10 million using allocation of the balance of retained earnings of LEK 859 mln and reserves of LEK 139 mln, as of Aug. 31, 2005 (USD 1= LEK 99.86 BoA).

The decision was taken during the shareholders assembly held in Sep. 7, 2005.
“As a result, 1 million shares were issued to the existing shareholders with a nominal value of USD 10 per-share”, announced the bank in its Q3 report as of Sep. 31.

The total paid up capital reached USD 24.6 million, with 60% owned by Kent Bank Turkey, 20% owned by the European Bank for Reconstruction and Development (EBRD),  and 20% owned by the International Financial Corporation (IFC).

The Q3 financial results showed also a strong growth in the bank’s activity.
Assets reached USD 557.3 million; an increase of 10.6% compared to Dec. 31, 2004. Customer deposits reached USD 526.5 million.

Local brandname of National Commercial Bank is Banka Kombetare Tregtare (BKT).

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