Page 45 - BKT Annual Report 2023 EN

ANNUAL REPORT 2023 45

The Financial Control & Accounting Department has portfolio totalling to around 480 assets. The asset sales
continued to exercise enhanced and detailed controls during 2023 reached a satisfactory target achievement by
over the main Bank’s accounts. The aim of these controls approving the sale and financial lease of 39 assets during
and checks is to ensure correct application of expenses, the year and reducing the stock number by nearly 5%.
commissions and other fees for both the Bank and
its clients. In addition, the department guards Bank’s In addition, the Unit has successfully concluded the
operating expenses and capital expenses by monitoring property reinsurance process for more than 250 insurable
all invoices issued in favor of the Bank and by controlling assets, while in close collaboration with Appraisals Unit the
realized expenses versus the budgeted figures. whole portfolio of foreclosed assets has been reappraised
during the year. In addition, the Unit of Foreclosed Assets
The Finance Group in addition to closely coordinating has expanded the marketing efforts of bank properties
various external statutory and group audits, and by using also different channels other than BKT’s website
inspections by regulatory bodies; BoA’s full inspection, and branches, while in cooperation with Legal Affairs
Deposit Insurance Agency, Tax Office, has also managed Department it has increased the number of properties
the yearly affirmation process of the credit ratings from taken under the physical possession, which provides
JCR-ER Rating Agency, being concluded with very a further tool for an efficient marketing and sale of the
satisfactory ratings assigned to the Bank in November assets. Meanwhile during the year, the Unit has fully
2023, affirming for the 15th time in a row its ratings on the updated and published its working Manual, which gives a
Long-Term National Scale as ‘AAA (Alb)’, which denotes comprehensive guidance of the whole asset management
the highest investment grade, along with a ‘Stable’ outlook. process within the Bank.
In addition, the Group handled successfully during June
2023 the yearly review process of Quality Management The Unit of Administrative Affairs, part of SSD, have dealt
System ISO 9001:2015 with TUV Austria, by confirming successfully with various objectives and duties achieved
the full application of the respective standards in all the during 2023. During the year, a special attention has been
branches operating in Albania. paid to the total reconstruction of the historical Durres
Branch (2nd and final phase), which was finalised in line
Along with its main financial reporting, budgeting and with its approved project plan, simultaneously carrying
control functions, the Finance Group has also strived out the transfer of the branch to these premises within
to deliver high quality services with its Support Services November. In addition, it was completed the relocation
Department (SSD). of Qyteti i Nxënesve Branch to a new facility, as well the
installation/relocation/upgrade of 32 ATMs throughout the
The Appraisals Unit, as one of the units within SSD, whole year.
along with its regular appraisal reports and opinions,
has also managed within 2023 the revaluation of all BKT Simultaneously, during 2023, one of the main objectives
collaterals, either residential or commercial, totalling to of the Bank was the full reconstruction of both new Data
more than 5,600 apartments, units, offices, dwelling and Center and Central Archive premises in Kashar area.
industrial buildings, according to the appraisal frequencies As such, the Finance Group as a whole, has closely
stated in the internal manuals and in compliance with the collaborated with IT Infrastructure, Physical Security and
requirements of BoA regulations and IFRS framework. In Liability Products Operations departments to manage,
this regard, during 2023 the number of appraisal reports supervise and successfully conclude their reconstruction
and evaluation opinions provided for BKT customers by year-end, implementing the best practices and
and staff collateral requests has been increased by more standards, by providing a high-quality infrastructure to
than 40%, also considering the EUR and Lek mortgage support the constant growing Bank operations and activity
products launched and marketed by the Bank during the in the future.
whole year.
During this year, in order to increase building efficiency
In addition, during the year the Appraisal Unit has by decreasing energy consumption costs, in line with the
effectively concluded the yearly performance evaluation Finance Group mid-term strategy as approved by the
of the Independent Appraisers working with the Bank. In Executive Management, SSD finalized successfully the
collaboration with Risk Management Group, Business, implementation and installment of photovoltaic panels at
Operations and FinTech departments, the Appraisal Unit the roof of its Head Office and Central Archive buildings.
has initiated a project on improving collateral data in The photovoltaic panels in both buildings are fully installed
the system and the Appraisal Reports forms according and started producing in full capacity by early 2024.
BoA requirements. Similarly, the Appraisal Unit in close According to our calculations, the energy costs in the Head
cooperation with LAD has also provided with its technical Office building during the year 2023, have decreased by
support and expertise for the needed court cases. approximately 20%, compared to the previous year. The
main impact from the use of photovoltaic panels during
The Unit of Foreclosed Assets management improved this period, in addition to the impact from solar filters on
further its duties and responsibilities related with the the façade, is reducing of costs and the impact on the
sale and lease function of the Bank’s foreclosed assets environment.