BANK OF ALBANIA

PRESS RELEASE
Decisions by the Supervisory Council, 25 March 2020

Publication date: 30.03.2020

 

On 25 March 2020, in addition to the decision to decrease the policy rate,  at 0.5%, as well as the overnight loan rate at 0.9% and to keep the deposit rate unchanged at 0.1%, the Supervisory Council of the Bank of Albania reviewed and decided to:

  • Approve the Financial Statements of the Bank of Albania for the year 2019

The financial statements of the Bank of Albania for the year 2019 are compiled in full compliance with the International Financial Reporting Standards (IFRS). These statements are audited by Ernst & Young - Authorized Accounting Experts, Tirana branch. Together with the indipendent auditor’s report, they are an integral part of the Annual Report of the Bank of Albania for 2019. These are the first financial statements of the Bank on which the IFRS 16 ‘’Leases” are applied.

As at end-2019, the total assets of the Bank of Albania amounted to around ALL 539 billion. Accounting for 50%, investments in foreign securities - part of the international reserve of the Bank of Albania - had the highest share in total assets.

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