Tirana, Albania (27th January 2021) – Banka Kombëtare Tregtare (BKT) was ranked first in the short preliminary list of only 3 banks, selected from Albanian Deposit Insurance Agency (ADIA) as Agent Banks for carrying out the deposit compensation process.
ADIA, on 18.9.2020, initiated the procedure of selecting the preliminary list of agent banks by inviting all banks belonging to the deposit insurance scheme. At the end of the evaluation process, ADIA Management Council came up with the decision Nr. 39, dated 15 December 2020, in compliance with all selecting criteria, where BKT was ranked first in the short preliminary list of 3 banks.
Following this process, BKT and ADIA have successfully finalized all the details and on 27 January 2021, BKT CEO and Board Member, Mr. Seyhan Pencablıgil and ADIA General Director Mr. Genci Mamani, signed the contract for the execution of the deposit process.
This new initiative of ADIA indicates ones more that the banking system is building the necessary mechanisms and infrastructure for the consolidation of the financial sector’s stability and the resilience of the banking system in case of any unexpected situation or potential failure in the future.
The Albanian Deposit Insurance Agency was established in 2002 and performs its activity under Law no. 53/2014, dated 22.05.2014 "On Deposit Insurance", amended. ADIA administers the deposit insurance scheme, which is currently mandatory for all second-tier banks and cover up to the amount 2,500,000 (two million five hundred thousand) ALL.
Established in 1925 BKT is the largest and the oldest commercial Bank in Albania. With a total asset value of 4.9 billion USD and total deposits of 3.9 billion USD, BKT serves its customers through a network of 92 branches, out of which 64 are located in Albania and 28 in Kosovo.