TIRANA, November 11 – Governor of the Bank of Albania, Gent Sejko, highlighted significant changes in the banking system during the institution’s 100th anniversary. He said the bank has achieved high convergence with European Union supervisory standards, built an efficient payment system, invested in financial education, and maintained effective dialogue with domestic and foreign partners.

Sejko noted that over the past three decades, Albania’s economy avoided major financial or balance-of-payments crises. Investor confidence, both domestic and foreign, has increased.

Economic growth averaged 4.3 percent per year, while per capita income rose from 670 US dollars to 11,000 Euros. Average inflation remained at 3.1 percent, close to the bank’s target. Credit stock for the private sector increased more than 100-fold. Deposits grew 3.5 times, reaching 18 billion euros. Foreign exchange reserves rose from 318 million USDs to 7 billion Euros.

Sejko emphasized that the Bank of Albania remains a key pillar of the country’s financial and economic expertise.

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