Tirane, Albania / February 23, 2016
Bank of Albania’s Governor Genti Sejko welcomed in a meeting the Italian Ambassador to Tirana, Alberto Cutillo at the Bank’s premises. The two high officials discussed the economic relations between the two countries and the cooperation in the banking system. Sekjo made a presentation of the latest developments in the country’s economy by highlighting that the banking system in Albania is liquid and well capitalized. He also highlighted the significant reduction of nonperforming loans by private banks due to Bank of Albania’s package of measures regarding this issue.
The Governor and the Ambassador also discussed the latest developments in the Eurozone’s banking system and Sejko praised the support shown by the Bank of Italy to the Bank of Albania in terms of technical assistance.
In turn, the Italian Ambassador evaluated the great contribution of the Bank of Albania for maintaining the macroeconomic stability of the country. According to him, “the latest data show that Italy’s economy has showed progress signs” and that the level of nonperforming loans is an issue also for the Italian banking system.
News source/photo credits: ATA