Governor Sejko, banks: To fight informality and reduce non-performing loans

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Yesterday, the Governor of the Bank of Albania Gent Sejko held a meeting with the Albanian Banking Association. The joint roundtable focused on deepening efforts for the sustainable expansion of the financial market, as well as an overview of some of the key moments of 2019 and orientations for 2020.

Governor Sejko said that the event with the highest impact that marked 2019, in all economic and social sectors, was undoubtedly the devastating earthquake of November 26.

The event, which brought not only economic damage, was also a strong test and successfully passed by all banks, in terms of maintaining the continuity of critical functions of the financial market.

According to the governor, 2019 confirmed the stability of the Albanian banking sector, which makes him see the performance positively.

"All of these rankings are reason enough to be optimistic about the prospect of economic growth in the medium term. Among other things, Albania is facing a major moment on its path of development and integration: the expected opening of negotiations for membership in the European Union. These negotiations must necessarily be seen as an important development anchor and as an additional guarantee for domestic and foreign investors. '', - said Sejko.

Governor Sejko, banks: To fight informality and reduce non-performing loans 1

Speaking further about the goals, but also the challenges of 2020, Sejko addressed four main issues that according to him are very important to ensure sustainable pillars on which to continue to build a banking activity as a whole and that provides income stable, such as:

- Reducing the non-performing loan portfolio

- Reducing business informality

- Relatively high amount of "fixed" assets that occupy a place in the balance sheet of banks

-Investments in technology as a step that time requires

 

 

 

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