Tirana / November 3, 2015
Credit Agricole Albania private bank has officially transformed into the American Bank of Investments after “Credit Agricole” investment group sold 100% of the shares to NCH Capital American investment group, after the approval of the Bank of Albania and the Authority of Competition. NCH Capital is headquartered in the United States of America and invests mainly in East Europe countries. This is not the first investment of NCH Capital in Albania given that the investment group is present in the market since 2010 with Tranzit company, specialized in collecting nonperforming loans.
Currently, the American Bank of Investments is the newest and the only private bank of American capital in Albania. On 2007, the American Bank of Albania private bank was sold to Intensa Sanpaolo Italian bank which now is well positioned in the banking system as a second tier bank. The American Bank of Investments comprises 1.8% of the banking system in Albania
The bank announced the new appointed CEO is Andi Ballta, former CEO of Tranzit company and part of the Board of Members are the President of the American Albanian Chamber of Commerce Mark Crawford and the former CEO of the American Bank of Albania, Lorenzo Roncari.
News source: Scan TV
Photo credits: geralt /Pixabay
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