Financial entities licensed by the Bank of Albania 2002-2013

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Open Data Albania has conducted a research on the number of financial entities that are licensed by the Bank of Albania in the years 2002-2013. Financial entities licensed by the Central Bank of the Republic of Albania are second level banks and foreign bank branches, non-bank financial institutions, foreign exchange offices, saving and credit association unions and saving and credit associations.

Second Level Banks are commercial banks that accept cash deposits or other repayable funds from the public and use them to extend credit and issue payment instruments in the form of electronic money. Foreign bank branches are those foreign banks that conduct financial and banking activity in the Republic of Albania, through its branch. For this purpose they deposit at the Bank of Albania, the amount donated of the minimum initial capital of the latter, but no less than 1 billion ALL.

Non-bank financial institutions are companies that perform activities of financial intermediation and other activities closely related to financial intermediation but which are not classified as accepting deposits.

Foreign Exchange offices are institutions which conducted foreign-exchange transactions. Savings and Credit associations are financial institutions that accept deposits only from their members, and lend these funds to ensure profit. Savings and Credit Association Unions are obliged to report to the Bank of Albania the financial condition and supervision rates on individual and collective basis for the entire network of savings and credit.

The number of financial entities licensed by the Bank of Albania 2002-2013.   



Source: Bank of Albania
Comments and analysis: ODA

In 2013 in Albania operate 333 Foreign Exchange Offices. Their licensing this year has continued at a slower rate compared with the previous year. Concretely there were licensed 18 foreign exchange offices and the license was revoked from seven of them.



Source: Bank of Albania
Comments and analysis: ODA


In the number of non-bank institutions in 2013 there was no change after being awarded three new licenses for the operation of financial leasing and factoring, and also there were revoked three other licenses. The revocation of licenses of three non-bank institutions is a consequence of not initiating financial activity as a result of the merger by absorption with a commercial bank and at the request of the subject.


Source: Bank of Albania
Comments and analysis: ODA


For Savings and Credit Associations, this year there were no new licenses, while their number was reduced as a result of the revocation of licenses of five savings and credit associations; four as a result of the departure of a liquidation procedure and one as a result of the merger by absorption between the two companies.


Source: Bank of Albania
Comments and analysis: ODA


In the 2002-2013 time frame 192 financial entities were licensed from BOA to score in 384 subjects in 2013. So in 2013 there are performing their activities the double number of financial entities compared with year 2002.



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    Contributer: Griselda Rruci
    Translated by: Viola Qefalia
    Edited by: ODA