Page 43 - Annual Report 2022

conclusion of this process, in collaboration with of BKT. In addition, considering the changes of
Legal Affairs (LAD) and Credit Risk Departments,
it organized a joint workshop with all Independent
Appraisers to discuss the concerns of the Bank in the
appraisal reports and issues about properties being
assessed as loan collateral. Similarly, the Appraisal
Unit in close cooperation with LAD provided its
technical support and expertise for the necessary
court cases.
The Unit of Foreclosed Assets management further
improved its duties and responsibilities related to
the sale and lease function of the Bank’s foreclosed
assets portfolio, totalling around 500 assets. The
sale and financial lease of 53 assets were approved
during the year, the highest number ever.
In addition, the Unit successfully concluded the
property reinsurance process for more than 300
insurable assets, while in close collaboration
with the Appraisals Unit, the whole portfolio of
foreclosed assets was reappraised during the
year. In addition, the Unit of Foreclosed Assets
expanded the marketing efforts of bank properties
by using channels other than BKT’s website and
branches, while in cooperation with LAD it increased
the number of properties taken under physical
possession, which provided a further tool for the
efficient marketing and sale of the assets.
The Units of Administrative Affairs and Procurement,
part of SSD, dealt successfully with various
objectives and duties during 2022.
During the year, special attention was paid to the
reconstruction, reinforcement, and restoration of
the main Durres Branch (1st phase) in line with
its approved project, as well as to the further
reconstruction of offices for FinTech Group and BKT
Pay, the recently established e-money subsidiary
organizational structure during 2022, SSD planned,
prepared, and implemented the new/amended
office plans, their necessary reconstructions, and
proper department/staff relocations within Head
Office. It also completed the renovation of a few
branches, along with the installation/relocation of 30
new offsite ATMs throughout the year.
In addition, to decrease power consumption costs
in line with Finance Group mid-term strategy, SSD
successfully finalized the selection of the company
for the installation of photovoltaic panels on the roof
of the Head Office (Lunder) and Central Archive/
Data Center (Kashar) buildings. Investing in solar
panels will not only reduce the carbon footprint but
will also increase renewable energy generation and
decrease the amount the Bank spends on electrical
power each month by around 20%. Energy prices
significantly increased in the last year, and by
implementing photovoltaic panels, as per current
estimations, the Bank will cover the investment
cost within 4 to 5 years, while the lifetime product
warranty is around 25 years. The project has already
started and is expected to be implemented within
1H2023.
Moreover, one of the major tasks executed
effectively during 2022, considering the high rate
of inflation, was the continuous reduction in costs
and increase in service/product quality. In particular,
FinTech Group, HR & Developments Group and Risk
Management Group were greatly assisted in their
respective procurement and investment requests,
while the Purchasing Committee Policy & Procedures
were updated, ensuring the implementation of best
practices for a transparent and efficient procurement
and purchasing process within the Bank.