PRESS RELEASE
Decisions of the Supervisory Council, 13 March 2019

Today, on 13 March 2019, the Supervisory Council of the Bank of Albania reviewed and decided to:

• Approve the Annual Report of the Bank of Albania 2018

The annual report constitutes a legal obligation of the Bank of Albania in view of the accountability to the Parliament and the communication with the financial system, the media and the public. It is the most important document, which transparently informs the Parliament on the decisions by the Supervisory Council and the activity of the Bank of Albania with a view to fulfilling its institutional, monetary, operational and developmental objectives.

The report, inter alia, reflects:

• overall macroeconomic developments in Albania;
• monetary and foreign currency-related policies implemented by the Bank of Albania;
• developments in the banking system and potential risks facing financial stability;
• supervisory, licensing and regulatory activities;
• currency issue, payment system, statistics, research, communication and financial education activities;
• human resources management;
• internal audit activity;
• medium-term objectives.

Following its presentation to the Parliament of the Republic of Albania, the Annual Report 2017 will be available on our website www.bankofalbania.org

• Grant the preliminary approval for the change of shareholders of Bank Société Générale Albania sh.a.

Based on this decision, the Supervisory Council grants the preliminarily approval for owning 88.89% of the shares with voting rights of Bank Société Générale Albania sh.a. by OTP Bank Nyrt.

• Grant the preliminary approval for the change of shareholders of International Commercial Bank sh.a.

Based on this decision, the Supervisory Council grants the preliminarily approval for owning 100% of the shares with voting rights of International Commercial Bank sh.a. by Union Bank sh.a.

During today’s meeting, the Supervisory Council reviewed and approved the allocation of Bank of Albania’s profit for 2018.

The Supervisory Council was also informed on daily functional and operational activities of the Bank of Albania.