Albania has made great progress and is the only country in Southeast Europe with a rather sustainable development and a strong currency


18.9.2009

Raiffeisen Bank in Albania celebrated on Tuesday its fifth anniversary with the presence of customers, friends and guests. Prime Minister Sali Berisha attended on Tuesday the ceremony were Dr. Herbert Stepic, Chairman of the Managing Board of Raiffeisen International Bank-Holding AG, Mr. Oliver J. Whittle Chief Executive Officer Raiffeisen Bank Albania, Mr. Ardian Fullani, Governor of the Bank of Albania, other international financial personalities, representatives of the various banks and entrepreneurship etc.

Chairman of the Managing Board of Raiffeisen International Bank-Holding AG Dr. Herbert Stepic highlighted in his greeting speech that during 5 years of the Raiffeisen Bank presence in Albania, the country has made a notable progress and emphasized that Raiffeisen Bank has made a contribution and will continuo to do so in the process of transformation of the industry of finance in Albania. “Albania has made great progress and is the only country in Southeast Europe with a rather sustainable development and a strong currency, with a relatively low interest rate, low inflation of a developing market while the rest of Europe is facing the financial crisis”, emphasized Mr. Stepic.

Dr. Stepic expressed his high evaluation for the job and the great progress of the country and assured of Raiffeisen Bank further cooperation and contribution to the development of the Albanian banking market. He emphasized that Austria has been a very close ally of Albania and the Albanians going through many important moments of development and Euro-Atlantic integration of Albania and ensured its further support to the European integration of the country. Raiffeisen International bought the Albanian Savings Bank in 2004 and Dr. Stepic thanked once again the government of that time for giving Raiffeisen International this chance.

On his part, Premier Berisha expressed government of Albania gratitude for all Raiffeisen Bank support to the Albanian economy and the banking market in Albania. In this context, the premier extended an appeal to all banking system in Albania not to be influenced by the global economic crisis. “I invite the banks to provide credit in conformity to the Albanian reality. Absolutely, all the indicators of the Albanian economy are optimistic and is not affected by the global economic crisis, and that is already being overcome, you will also have the greatest profits from crediting”.

“Election times are full of activities, but anniversaries like this of the Raiffeisen Bank deserve to be treated with priority”, said the Prime Minister.

The Governor of the Bank of Albania, Ardian Fullani said that Raiffeisen bank in Albania is solid partner in the economic developments of the country. He mentioned Dr. Stepic as supporting Albania since ’80 and for his personal help in bringing foreign investors to the country. Mr. Fullani couldn’t not mentioned Mr. Heinz Hoedl, the Chairman of the Supervisory Board for Albania and his distinguished help in all the developments in the country. He said that Raiffeisen Bank had a strong and important role in changing the environment especially in the financial market and in growing the healthy competition. Only because of that we see now more financial and banking products and services in the country.