The Albanian Association of Banks (AAB) hosted on 20 February a roundtable on the Italian and Albanian banking sector. It brought together Bank of Albania’ representatives, chief executive officers and high-level managers from several banks, Italian Ambassador to Tirana, as well as representatives of the Albanian and Italian Association of Banks (ABI), to discuss about the current situation, perspectives and challenges of the banking industry.
The event was opened by the AAB Chairman, Mr. Silvio Pedrazzi, who welcomed the participants and provided an overview of the banking system in Albania focusing in particular on structure of the Albanian banking system and recent economic and financial trends. He welcomed the opportunity to deepen the engagement with the Italian counterparts and to take advantage of their experience as an EU country.
Mr. Guido Rosa, the deputy Chairman of ABI, thanked the organizers for the reception and for the organization of the visit of the Italian delegation in Albania. During his speech he emphasized that Italian banking sector overcame the crisis and mergers has occurred. Banks face now the need to modernize their business model. He pointed out as the most significant challenge the link between the amount of capital and the income produced form the banking activities.
Mr. Pierfrancesco Gaggi, Head of International Relations (ABI) make known to the participants the structure and recent developments in the Italian banking system within the European Framework. He highlighted the consolidation of the sector and the issues of NPL. Following the macroeconomic stabilization, the situation of banks improved considerably, even under the pressure of many regulatory changes.
On a regulatory standpoint, Mr. Deniz Deralla, Head of Supervisory Department, Bank of Albania, introduced the latest developments in the regulatory framework and relevant measures for foreign intermediaries. Topics such as financial trends within the European framework, Basel II and III Acord, the changes that have already occurred and changes to be made, measures to control and decrease NPL and the need for improved standards, were presented during his speech.
At the end of the meeting, the parties agreed to continue to strengthen the partnership and cooperation on issues of common interest.