PRESS RELEASE
Governor Sejko presents the Annual Report of the Bank of Albania 2014 to the Parliamentary Committee on Economy and Finance

Today, on 29 April 2015, the Governor of the Bank of Albania, Mr Gent Sejko presented the Annual Report of the Bank of Albania 2014 to the Parliamentary Committee on Economy and Finance.

Governor Sejko outlined the work of the Bank of Albania during 2014, highlighting its contribution to safeguarding financial stability in Albania, and to the development and consolidation of financial markets, albeit amid a challenging economic and financial environment. More specifically, during 2014, the Bank of Albania focused on  two main aspects: addressing low inflationary pressures and safeguarding financial stability, especially with regard to credit risk management.

Among challenges facing the Bank of Albania, the Governor mentioned: restoration of the pace of lending, improvement of banks’ asset quality and loan write offs, mitigating the effects from measures taken by parent banking groups, strengthening the management system and the internal audit function, capacity building and alignment to EU standards, and enhancing transparency of the Bank of Albania with all the groups of interest and the general public.

Concluding, the Governor pointed out that the Bank of Albania is confident that the reliance on modern central banking principles, and the effectiveness of its policies on the economy will boost the public confidence in the institutional integrity of the central bank and will contribute positively to achieving successfully all the objectives of the institution.

On behalf of the Parliamentary Committee on Economy and Finance, MP Ervin Bushati spoke on the activity of the Bank of Albania during 2014, overall commending the work of the Bank of Albania for safeguarding the macroeconomic and financial stability in Albania. He also focused more specifically on the challenges facing the Bank of Albania as regards improving the institutional development, professional integrity and its key role in supporting the country's economy.

In the following days, the Governor will be present in another hearing session to answer questions of MPs members of the Parliamentary Committee on Economy and Finance on various topics related to the activity of the Bank of Albania.

Governor’s speech at the Parliamentary Committee on Economy and Finance