Albania outstands in SEE Penetration of Foreign Banks

Tirana, March 13 (AENews) Albania together with Bulgaria appear to top the South East European region in holding one of the highest percentages of penetration of foreign banks, according to figures released on Sunday by the Union of Greek Banks (EET).

This is largely due to the completed privatization of banks in the country and a sequence of mergers within the banking sector, according to an analytical document by the Union of Greek Banks (EET).

Foreign banks control two-thirds of the assets of the banking system in the countries of South East Europe, with Austria controlling 25%, followed by Greece and Italy with 13% each.

The highest percentages – above 90% – are on the tally of Bulgaria and Albania, followed by Romania with 60% where the process of privatizations is continuing.

The five largest Greek banks have made overall investments of more than EUR 2 billion in the region, establishing a network of approximately 950 branches that employ 16,000 people. These Top 5 are commanding more than 16% of the banking market share in South East Europe, the report said as quoted by ANA news agency.

Albania’s banking sector has a total of 4 different Greek banks; Emporiki Bank – Albania, National Bank of Greece – Albania, Alpha Bank and Tirana Bank respectively.

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Posted by on Mar 13th, 2006 and filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0. You can leave a response by filling following comment form or trackback to this entry from your site

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