PRESS RELEASE
Decisions by the Supervisory Council, 6 February 2019

On 6 February 2019, in addition to the decision to keep the key interest rate unchanged  at 1.0%, as well as overnight deposit and overnight loan rates at the Bank of Albania at 0.25 and 1.9%, respectively, the Supervisory Council of the Bank of Albania reviewed and decided to:

• Grant preliminary approval for 88.95% ownership of the equity capital of Tirana Bank sh.a, by Balfin sh.p.k.

Based on this decision, the Supervisory Council grants the preliminary approval of the ownership of 88.95% of shares with voting rights of the equity capital of Tirana Bank sh.a. by Balfin sh.p.k. and 9.88% of shares by Bank Comercijalna A.D.Skopje on the condition of the presentation to the Bank of Albania of the approval by the Hellenic Financial Stability Fund (HFSF) of the sale of the shares of Tirana Bank sh.a.

• Grant preliminary approval for additional financial activities by the First Investment Bank, Albania sh.a.

According to this preliminary approval, the First Investment Bank, Albania sh.a. may conduct the additional financial activity of intermediation in insurance, hence operating as an insurance agent.

• Approve the issuing of banknotes 1,000 Lekë and 10,000 Lekë, legal tender.

The decision aims at meeting the demand of the economy for currency, in terms of value and structure, and ensuring a regular supply with these banknotes over the period ahead.

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