Banks in Albania have a seed capital of 1 billion USD

Banks in Albania have a seed capital of 1 billion USD

Tirana, June 19, 2014/Independent Balkan News Agency

Seed capital for all the banks that currently operate in Albania is 103.38 billion ALL or 1.01 billion USD/737 million Euros.

The bank with the biggest capital up to day is Tirana Bank (Part of Piraeus Bank) with 15.2 billion ALL worth of capital or 150 million USD.

These data belong to the June period and their source is National Registration Center.

The seed capital invested at the start of the activity of all active banks in the Republic of Albania amounts to 12.06 billion ALL or 120 million USD.

The bank with the highest initial seed capital at the start of the activity is United Bank of Albania with 2.94 billion ALL invested. Its activity has started in 1999. At the same time, this is the only bank which has seen a reduction of initial capital during its activity throughout the years.

Aranita Brahaj, head of Open Data Albania told IBNA that the increase of capital by banks is an action which allows them to be better positioned against external influences, be it economic, geopolitical or financial and as a result, it increases the credibility among customers.

Meanwhile, Open Data Albania has gathered data on shareholders of commercial banks in the country based on the capital that they own.

The source of the data in this study is the National Registration Center (NRC), which has extracts of the historical data of banking institutions.

Total capital of legal subjects, shareholders of commercial banks in Albania amounts to 96.9 billion ALL or 960 million USD.

Pireaus Bank has the largest share capital among other banks. This group is the main shareholder of Tirana Bank with 98.83% of the seed capital or 15.05 billion ALL. This shareholder comprises 14.5% of the total banking capital in the country and 15.5% of the total capital of shareholding companies in banks.

Other shareholding companies with a capital over 10 billion ALL are Calik Financial Hizmetler A.S holding shares at National Commercial Bank, Raiffeisen International Bank-Holding AG holding shares at Raiffeisen Bank and Alpha Bank of Greece and Alpha Bank.

The legal subject with the lowest capital is Saudi Brothers Commerce Co. which holds shares at United Bank of Albania with a capital around 10 million ALL.

Currently, banks have 49 registered individual shareholders. 24 of them are foreign. Among banking shareholders, ten of them are women.

The individual with the biggest capital is Renis Tershana of Credins Bank with a capital of 27.75% of the seed capital or 1.5 billion ALL.

This capital makes up for 1.46% of the total capital of all banks and 23.3% of the capital owned by individuals.

Aleksander Pilo, shareholder at Credins Bank has a capital of 1.2 billion ALL or 21.86% of shares.

The individual with the lowest share capital is Gjergj Bushati of Credins Bank with 7.6 million ALL.

Among foreign individuals with the biggest capital are Jassim M. A. Al Kharafi and Fawzi Kharafi with 439.5 million ALL each, the capital of which makes up for 27.95% of the total capital owned by foreign individuals.

Brahaj says that ODA analysis has only taken into account increases of audited capital, registered and published in the system of the National Registration Center. The process of registration and publication in this center has legal effects for companies.

Second level banks are commercial banks which accept monetary deposits or other repayable funds from the public and use them for lending and emission of payment instruments in the form of electronic money. Foreign banks branches are those foreign banks that exert banking and financial activity in the Republic of Albania through their branch. In Albania, there are 16 banks or branches of second level foreign banks. /ibna/