Banking in Albania Overview

Banking in Albania is a relatively modern industry, with the first commercial bank opening in 1925.

The country's banking system is regulated by the Bank of Albania, which was established in 1993.

Albania has a relatively high banking penetration rate, with around 70% of the population having a bank account.

The country's banking sector is dominated by a few large banks, with the top three banks holding around 70% of the market share.

The banking system in Albania is relatively modern and well-developed, with a wide range of services available to customers.

Commercial banks in Albania offer a variety of services, including checking and savings accounts, loans, credit cards, and online banking.

The country's banking system is regulated by the Bank of Albania, which is responsible for ensuring the stability and soundness of the financial system.

Albanian banks are required to hold a minimum amount of capital to ensure their stability and solvency.

The Bank of Albania also supervises and regulates the activities of credit institutions in the country.

In 2008, the Bank of Albania introduced a new payment system, which allows for faster and more secure transactions.

This has made it easier for people to conduct financial transactions in Albania.

The banking system in Albania is also relatively safe, with low levels of non-performing loans and a stable banking sector.

In Albania, there are 11 licensed banks, each with its own unique characteristics and shareholders. The Bank of Albania is the central hub for the banking network, connected to all licensed banks and their branches.

The Bank of Albania has a record low policy rate of 1.75%, which was cut to support the economy. One of the licensed banks, the Bank of Albania, has a CEO, Gent Sejko, who forecasts inflation will not reach the central bank's target until the second quarter of 2024.

The 11 licensed banks in Albania have a total of 325 nodes in the banking network, with the Bank of Albania being the central hub. This network includes second-level banks, non-banking financial institutions, foreign exchange bureaux, and savings and loan associations.

Here's a list of the 11 licensed banks in Albania:

Each of these banks has its own unique characteristics, shareholders, and branches, but they all contribute to the vibrant banking sector in Albania.

In Albania, you can easily access your money through an extensive network of ATMs. This convenience is made possible by the presence of an interbank network.

The Central Bank of Albania, also known as the Bank of Albania, plays a crucial role in facilitating transactions among banks. It's great to know that you can withdraw cash or make transactions at ATMs affiliated with different banks.

Albania's banking system is well-connected, with a wide range of banks participating in the interbank network. This means you can use your debit or credit card to make purchases or withdraw cash from any participating bank's ATM.

Here are some of the banks that are part of the interbank network: