Greek Banks lose terrain in Albania
26/08/2011 08:00
Opposition’s protest in front of Tirana City Hall brings smoke and flames, clashes with protective barriers 26/04 15:42
Banks with capital of Greek origin and branches of Greek Banks that operate in our
country have started losing terrain in the since the
end of 2008, when the international finances were hit by the crisis.
tThe news comes from the statistics that were published by the yearly supervisory reports of Bank of Albania.
By the end of 2008, the four Greek Banks in our country owned 28% of the total active assets in the system, and by the end of 2010 their share was 23.1%.
In nominal terms, the assets, part of the balance of the four Greek Banks, reduced from 233 billion ALL in 2008 to 229 billion ALL in last December.
On the same time, the activity of the banking sector has kept growing, causing the plunge of the other part of the market, the one controlled by banks with Greek origin.
Same thing happened with the loan market. Greek banks owned 41% of the total loans in Albania by 2008, but this domination reduced to 34.5% in December 2010.
The economic and financial difficulties of the Greek government, and also those of Albania during the past three years seem to have been the main causes that have decreased the weight of the Greek banks in our country.
The Albanian banking system had a total asset of 990 billion ALL, almost 7.1 billion euro, from which 228 billion or 1.6 billion were assets of Greek banks.
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