AAB organizes a seminar on workout process

The Albanian Association of Bank (AAB) and International Finance Corporation (IFC), member of the World Bank Group (WBG), jointly organized the seminar entitled “Preparing for the Storm: A Discussion Around Workout Process.” The activity is organized within the mandate of the Debt Resolution and Business Exit Project Phase II, supported by the Swiss Embassy – State Secretariat for Economic Affairs (SECO), and was held on November 1st, 2023.

The discussion focused on the challenges that banks face in the workout process through an open conversation with participants such as credit risk, collection, and legal recovery officers about efficient department structure and workout methodologies. Topics included the role of the in-house legal, coordination with new business and portfolio departments, warning signs that would trigger specialized involvement, and basic principles of a workout strategy.