PRESS RELEASE
Questions and answers at the press conference of the Governor of the Bank of Albania, 04.03.2015

Question: Mr. Governor, what are your expectations about the perfornamce of lending? Does the risk exist for Albania to enter a period of several years of slow growth of lending?

Answer: During 2014, lending to the economy was upward. Thus, last year we saw a growth in lending to the economy, resulting in 4%. For 2015, we expect Albania to experience economic growth, which will be better supported by credit growth. The figure may range 5-6%, subject to future developments. What is important, however, is that economic growth is expected to continue in 2015 and credit growth is expected to be present both in 2015 and in 2016. The Bank of Albania is working closely with banks and businesses to facilitate the cooperation between these two groups, in order for growth to continue in its path toward consolidation. We deem that lending will continue to grow steadily. Banks will continue to lend in 2015 with a more optimistic pace than in 2014.

Question: In the past year, a theft happened at the Bank of Albania. In your view, what measures should be taken to prevent such event from happening again?

Answer: The Bank of Albania has taken all the measures to prevent such events from happening again. As I underlined in my address to the Parliamentary Committee on Economy and Finance, the perfection of the internal audit, and of all units that manage operational risks, including human resources, physical security systems and information technology, will ensure that such events will not happen again. The Bank of Albania has taken these measures and is actually working to further improve them. Soon, you will also be informed on the undertaken measures.

During these three weeks since I joined the Bank of Albania, I have been informed in detail and verified the measures taken. I have seen that changes to perfect the internal audit systems are made in the right direction. I assure you that all the security elements at the Bank of Albania are at the right levels.

This, however, is a continual process. Upholding these elements requires constant attention, prudence and care, as well as vigilance, which, while an old-fashioned word, conveniently fits the context. Identification of operational risks and functioning of the internal audit systems should be, at all times, at their highest level, to not allow such despicable events, such as the one that happened at the Bank of Albania, happen again. I am confident that we will continue to stand at the highest level of security to protect our values, not only monetary ones, but also the integrity of Bank's employees. Measures have been taken and will continue to be subject to perfection.

Governor's speech at the press conference.