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Sejko: Consolidation of the banking system under the BoA monitoring

Sejko: Consolidation of the banking system under the BoA monitoring

Governor of the Bank of Albania, Ghana Sejko, said today that the sales transactions involving the banking sector in our country are being monitored by the Bank of Albania.

At the conference that took place today for the media, Sejko said that consolidation of banks is a regional phenomenon. After the crisis, Western banks have followed a consolidating policy, entering into a shrinking process in several countries, including our region, the Governor said.

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“In total, today in Albania we have 14 banks out of 16, as there are some banks in the consolidation process, which we are monitoring carefully. In this context we do not intervene in the auctions processes that banks develop. Banks are free to make auctions to choose the best buyer. We intervene when applying to the Bank of Albania. At this moment we strictly respect the law on the Bank of Albania and the criteria that must be met by the new investor, which are well-defined. The bank will make the right decisions by focusing first on financial stability in the country, “Sejko said.

News Source: ATA

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