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Albanian money at risk of exposure, an oligarch will buy Raiffeisen Bank

2022-08-31 13:09:05Fokus SHKRUAR NGA REDAKSIA VOX

Albanian money at risk of exposure, an oligarch will buy Raiffeisen Bank

350 million euros, for the sale of the Raiffeisen Bank branch  in Albania of the Austrian banking giant, where the buyer is one of the most powerful Albanian businessmen.

Albanian Post writes that the agreement itself may be completed, a decision is still needed from the meeting of the board of Raiffeisen center, which is still expected to be held.

According to the media close to the Albanian oligarch, the negotiations were conducted directly between the businessman and the base of the Austrian group, which is located in Vienna, and the agreement was finalized last weekend and is close to being closed in writing.

The only thing that is expected is the official confirmation of this transaction, which in concrete terms is one of the largest ever carried out in Albania.

The media has not mentioned the name of the oligarch who wants to buy Raiffeisen Bank , but has described him as one of the most powerful Albanian businessmen. We remind you that in Albania, the operation of the Raiffeisen company began in 2004, after the purchase of the former Savings Bank and its return to a bank with foreign capital.

Today, Raiffeisen Albania is one of the main banking groups in Albania , with over 480,000 customers, it ranks among the banks with the most capital and loans.

The widest banking network in the country is exactly that of Raiffeisen Bank , together with the main investments in the field of banking digitalization. 

According to economist Dritan Shano , Austrians and the Albanian buyer benefit from the sale of Raiffeisen. According to him, the Albanian oligarch is buying a business that, under Austrian management, earns about 20 million euros per year, and when he takes over, at least double that.

Shano writes with irony that Raiffeisen Bank with the new owner, does not have to report and follow the standards of the parent bank in Vienna, but only those of the Bank of Albania on the other side of "Gjergj Kastrioti" square in Tirana.

Until now, Raiffeisen Bank has been the biggest and safest bank, but it seems that now with the takeover by the Albanian oligarch, it will lose the trust of its customers.

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