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Raiffeisen Bank in partnership with Rural Credit Guarantee Foundation “RCGF”, to support Micro Business in Albania

Raiffeisen Bank Albania sh.a and Rural Credit Guarantee Foundation “RCGF”, have signed today a guarantee agreement to support Micro Business in Albania in the amount of EUR 5 million.

The Guarantee Facility agreement which limit can be further increased upon RBAL request, aims to facilitate access to finance for Micro Business in Albania in the form of Individual Guarantee Instrument for eligible loans and beneficiaries.

Mr. Christian Canacaris, CEO at Raiffeisen Bank, said: “Micro business represent a very important segment of the Albanian Economy. In Raiffeisen Bank Albania, we have very ambitious targets to increase our presence and support this business segment. In the last two years we have designed a new business model, new products and considerable investments are in progress, aiming to help this business segment grow. Through this Guarantee Agreement with RCGF, we expect that we will further grow our lending customer base and will be able to offer them more favorable conditions for lending products”.

Commenting on the Guarantee Facility, Mr Korsita from RCGF said: “RCGF, through its guarantee mechanism, is committed to support Micro, Small and Medium enterprises in Albania, to have access to finance with the final aim of preserving or creating employment in all regions of Albania. We believe that our cooperation will further support our goal, by reaching more businesses in all segments of the economy and all regions of Albania, which lack collateral,  or businesses that have been affected by the pandemic, in order to overcome the challenges of the current situation.”

About Raiffeisen Bank Albania

Raiffeisen Bank Albania is one of the largest banks in the country. Its asset base is close to 1.85 billion Euro. Raiffeisen Bank International purchased the Albanian Savings Bank back in 2004 and over the last 16 years has completely transformed the old State Bank into a full-service bank serving all sectors of the business and private individual markets. The bank has a product range, processes, systems and a branch infrastructure that compares favorably with 21st century European standards. Raiffeisen Bank offers the full range of banking products and services in the 4 key business sectors in which it operates - private individuals, micro business, small business and corporate business and servers to more the 465,000 customers.

Raiffeisen Bank Albania is the market leader, with the largest branch network in Albania, with 74 Branches, eight of which are digital branch, distributed in the majority of cities in the country. Raiffeisen Bank Albania has currently 183 ATMs, in the entire country and is the market leader for ATMs. Such presence ensures that customers have access to one of our ATMs in different parts of the country, even in certain areas that may be considered distant or remote.

In the framework of the continuous digital transformation, Raiffeisen On our digital banking channel, continued to have an exceptional performance. This platform which is designed for both retail and business customers offers fast and secure banking services through its advanced technology. Being the most innovative digital banking platform in the Raiffeisen ON has more than 180,000 Total users both in retail and business.

Our mission is to transform continuous innovation into superior customer experience with the vision to be the most recommended bank in the Albanian market.

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