Albanian Union Bank buys Malaysian ICBank

16/11/2018 18:34

Albania’s Union Bank has just purchased the International Commercial Bank (ICBank), from Malaysian owners.

The agreement was signed in the last week. The documentation was presented to the Central Bank.

ICB was licensed in January 1997, a few months before the collapse of the Pyramid schemes.

ICBank has 96 million USD of assets, 0.7% of the Albanian market. Union Bank has 462.8 million, or 3.4%.

ICBank has a staff of 90, in five branches.

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