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Gent Sejko: Replacement of foreign shareholders with local ones, revitalization in the banking sector
Written by SOT.COM.AL 6 Tetor 2022
The governor of the Bank of Albania, Gent Sejko, during his statement yesterday, said that BSH evaluated with positive marks the introduction of local shareholders in the market of second level banks.
"The introduction of local shareholders has pleasantly surprised us, as a central bank, but also the Albanian economic reality. Non-performing loans have continued to decline, and lending as an instrument for economic growth has continued to grow, reaching a 14% annual growth rate. Don't forget that 5 years ago we had anemic credit growth. This is also a consequence of the fact that these European banks, precisely because of the restrictions imposed on them by European groups or authorities, were not as active as they should be and were almost not performing their role in the Albanian economy" - he said.
In this perspective, the governor has also seen the increase in lending from banks in the country.
"Their replacement with new shareholders with ambitions to operate, grow and generate profits for themselves and the market, made the loan reach the 14% growth level, always bearing in mind that we are in a time crisis. It prevented the balances of the financial system from deteriorating and also the capital adequacy ratio (which is one of the main indicators by which we measure the health of the banking system) remained at very high levels. The average capital adequacy ratio for the banking system is 19%, compared to 12%, which is the minimum required by the Bank of Albania. So, we have a short-term experience of about 5 years of the structural change of the banking system and the increase of the specific share of local shareholders in relation to foreign shareholders, which has been positive so far" - declared Sejko.