BANK OF ALBANIA

PRESS RELEASE
Decisions by the Supervisory Council, 20 March 2024

Publication date: 20.03.2024

 

On 20 March 2024, in addition to the decision to keep the policy rate unchanged at 3.25%, as well as the interest rates for the overnight deposit facility and the overnight lending facility at 2.25% and 4.25%, respectively, the Supervisory Council of the Bank of Albania reviewed and decided to:

  • Approve the Financial Statements of the Bank of Albania for the year 2023

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The financial statements of the Bank of Albania for the year 2023 are prepared in full compliance with the International Financial Reporting Standards (IFRS). These statements are audited by Ernst & Young - Certified Auditors, Albania Branch, and together with the independent auditor's report are an integral part of the Annual Report of the Bank of Albania for 2023.

As at end-2023, the total assets of the Bank of Albania amounted to around ALL 761 billion. Investments in debt securities and the balances with banks - part of the international reserve of the Bank of Albania - have the main share in total assets, accounting for around 64% and 17%, respectively.

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

  • Six-monthly report on the performance of the "Minimum Requirement for Regulatory Capital Instruments and Eligible Liabilities"- MREL

This is the first report compiled for this purpose, summarizing the key developments of the banking sector in terms of meeting the "Minimum Requirement for Regulatory Capital Instruments and Eligible Liabilities" (MREL).

The Supervisory Council concluded that developments f the banking sector during the period 2021-2023 reflects a satisfactory capacity to meet regulatory requirements, based on the strong capitalization position, the successful issuance of debt securities in the Albanian capital market and the signing of MREL's first financial guarantee in the Balkan region with international financial institutions. The report will be published on the official website of the Bank of Albania.