IMF urges authorities to be cautious regarding sales of banks operating inside Albania

The International Monetary Fund in its first post-monitoring report for Albania has expressed concern over the fact that a number of European banks operating in the country have made public their intention to sell their branches in Albania.

As it is known since several months, this is more a consequence of the parent groups’ plans to focus on their own countries, especially with regard to Greek banks, rather than a result of the dynamics of the banking market in Albania.

However, the International Monetary Fund warns Albanian authorities to be cautious in these buying-and-sell processes in order to avoid the risk that in the near future one or some of these banks are sold to inexperienced banking groups.

Something like that, according to the International Monetary Fund, is very important, and therefore, authorities should be cautious.

“It is very important that new players entering the Albanian banking market have a strong banking experience and meet the criteria to operate in the domestic market,” underlines the International Monetary Fund in relation to Albania.

For this reason, the IMF recommends that the authorities communicate with the parent banks in Europe and strengthen oversight in this regard.

SCAN

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