September 16, 2022
Annual Report 2021, Tirana Bank marks positive progress

Tirana Bank continues to report positive progress and increased activity. CEO Dritan Mustafa talks about the bank’s achievements and the activity’s development strategy.

Referring to the data published in the 2021 Annual Report as well as to recent communications, the positive progress of Tirana Bank’s activity is visible. What would you single out as the main components that confirm this progress?

Tirana Bank is one of the most active banks in the local market. Since 2019, which coincides with the change in the shareholder structure, as well as the definition of the activity expansion strategy, the bank continues to report stable growth of performance. I would like to share with our customers, investors, partners, and associates some of the most important developments of our bank, as follows:

For the fourth consecutive year, during the period 2019-2022, the growth rate in each of the main commercial indicators – Total Assets, Deposits and Loans – is higher than the average growth rate in the banking sector in Albania.

Customer deposits from 463 million Euros in 2018 are estimated to reach around 790 million Euros by the end of 2022, with a growth rate of around 70% in these 4 years, also made possible through the positive developments in the local market. The constant growth of customer deposits, as well as the bank’s successful issuance of two long-term corporate bonds, purchased entirely by individual investors, are clear indicators of the level of trust and loyalty of customers to our bank, our good reputation in the market, as well as our unwavering objective to constantly increase and improve the quality and speed of service.

The volume of loans from 198 million Euros in 2018 is estimated to reach 480 million Euros by the end of 2022, with a growth rate of 142% in these 4 years. Our objective is to provide continuous support for the development and modernization of the local economy. Tirana Bank widely handles the requests of thousands of individuals and families with long-term lending products for home purchases, as well as with consumer loans and credit cards. Also, we offer loans for working capital and for medium-term and long-term investments in favor of businesses that exercise their activity in dynamic sectors of the economy, as well as in the financing of important public and private infrastructure projects.

In 2021, Tirana Bank has realized the largest annual increase in Total Assets (about 122 million Euros or +18%) throughout its 25-year history of activity, reconfirming the fact that the development and expansion strategy has continued to be realized successfully.

The positive and increasing results of the commercial indicators as well as the profitability of the activity encourage us in our efforts for further expansion of the activity, evaluating every opportunity and business synergy.

Tirana Bank is the first bank of private capital established in Albania. What does 26 years of experience mean, as a financial institution that continues to maintain an important presence in the market?

Tirana Bank laid the foundation of the private capital bank and currently remains one of the most important financial institutions in the local market. In these 3 decades, we have consolidated the good name of our bank, as the only financial institution with a local name, as well as a significant trademark that offers trust and enjoys a high reputation.

Our bank offers services and products to more than 130,000 customers, who are individuals, private businesses, public enterprises, and institutional customers, through a network of 34 active branches operating in the most important residential centers in Albania, as well as an extended network of ATMs. Tirana Bank continues to systematically invest in technology, to enable customers to access digital services, believing that this is a global trend and the indisputable future of providing banking services to customers.

The bank has a healthy liquidity and capital situation, as well as the appropriate institutional experience, staff, management structures, and supervisory bodies, to guarantee positive and healthy performance of activity.

Tirana Bank’s strategic objective is to continue organic growth, aiming for the Total Assets to reach the equivalent figure of 1 billion Euros within a short-term period.