American Bank of Investments announces the signing of the agreement with National Bank of Greece for the acquisition of NBG Bank Albania
American Bank of Investments announced today that it has reached an agreement with National Bank of Greece for the acquisition of NBG Bank Albania.
NBG Bank Albania started to operate in the country in 1996 and is renowned for its innovative retail products. The Bank has a substantial deposit base and a network of branches in all major cities in Albania.
The expansion of American Bank of Investments through this planned acquisition demonstrates the confidence in the prospects for growth of the Albanian banking sector and the Albanian economy by one of the largest US investors in Albania and the region.
During the past two years, American Bank of Investments has become a success story in the banking system reporting very strong performance and growth in deposits, profitability, liquidity, and capital adequacy. In particular, it is worth highlighting the Bank’s record improvement of the quality of its loan portfolio as a result of the integrity, dedication and professionalism of all the employees of American Bank of Investments, as well as, synergies from its close cooperation with Tranzit Finance, the largest and most experienced company in the acquisition and collection of bad debt in Albania.
American Bank of Investments is especially appreciative of the dedication and experience of NBG Bank Albania’s staff and it is fully committed to a high quality of service to all its customers.
The completion of the transaction is subject to the customary approvals from relevant regulatory authorities.
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