Balfin Group and Komercijalna Banka of Former Yugoslav Republic of Macedonia (FYROM) are pleased to announce that they have signed a binding agreement with Piraeus Bank to purchase the shares of Tirana Bank. Balfin will held the majority of these shares.

Balfin and Komercijalna have a long history of co-operation in FYROM and this is the first instance of working together in Albania.

Balfin and Komercijalna plan to operate the bank as an independent bank managed by experienced professionals, led by an international Board and will continue to expand the bank activities in Albania.

Tirana Bank has always been a key bank in the financial development of Albania, and it was the first private bank to appear on the local market. With an excellent reputation and staff, Tirana Bank is one of the best banks in Albania.

Balfin and Komercijalna plan to build on that reputation and trust from the customers and further grow the activities of the bank.

Balfin Group is one of the largest and most innovative group in the Balkans, with a huge investment portfolio in countries like Albania, FYROM, Kosovo, Bosnia and Hercegovina, Montenegro, Austria and United Kingdom.

Komercijalna is an award winning bank in FYROM with a leading market share in retail, corporate lending and developing additional new products using the internet and web based platforms. With assets of €1.737 Billion, Komercijalna is one of the largest banks in South East Europe.