American Bank of Investments – Americans show strength in the Albanian banking market
Americans show strength in the Albanian banking market in the first quarter
Record results and excellent performance in the Albanian banking system for the first quarter of the year.
ABI recorded the best results in Albania’s banking system with regard to increasing assets and deposits, capital adequacy, profitability, and asset quality improvement.
In its first meeting for 2016, ABI’s Board of Directors reported for Q1 2016, EUR 215 million in total assets, EUR 30 million in net capital and EUR 3.6 million in net income.
The Board discussed the performance of the Bank during the first quarter of 2016 in the context of the general situation of the banking sector and the Albanian economy in general.
The Board recognized the importance of the measures taken so far with the aim of improving the loan portfolio, expanding the bank and turning it into one of the most lucrative institutions in the country’s banking system.
The Steering Board stated that ABI is the best bank in Albania based upon the main performance indicators for Q1 2016, with, more specifically:
- greater credit quality improvement in 2015 (45%)
- the largest increase in total assets (21%) and deposits (22%) in the last six months
- the highest percentage of profitability during Q1 2016 (7% in assets and 85% in equity)
- greater capital adequacy improvement (25%).
Gregory Katz, representative of ABI’s shareholders, stated that the new owners and executives are committed to making ABI the fastest growing Bank in the country.
Lorenzo Roncari, Chairman of the Board of Directors, underlined, “After just six months, we have a larger, higher quality bank, bringing the best benefits and with all the opportunities to be a positive factor in the growth of our clients and the Albanian economy; while the Bank grows the country’s economy is growing.”
Meanwhile, Board Member Mark Crawford said, “The Bank’s significant growth over the first six months has shown great potential for further growth despite the general stagnation of the banking system.”
ABI CEO, Andi Ballta, stressed, “Customers and staff are proud, enthusiastic and optimistic about the positive results for the first quarter and the continuation of the good name of the U.S. investment in Albania. We aim to grow with the right customers and in the right sectors of the economy. In 2016, we will have more good news from ABI. The banking industry in Albania and the region offers excellent opportunities for the year. We are of the right size, and have strong stockholder support and the energy required to serve our customers rapidly and transparently.”
ABI is owned by one of the largest U.S.-based regional investors based in New York with more than USD 3 billion under administration.