Bank of Albania: New platform to reduce non performing loans
Information on introducing a platform for addressing non-performing loans
On 16 October 2013, the Bank of Albania, further to a number of legal and regulatory initiatives to reduce non-performing loans and boost lending, held a round table on introducing a platform for addressing non-performing loans, which was attended by senior managers of the Albanian banking system and representatives of the Albanian Association of Banks.
The platform was designed by the Bank of Albania, in cooperation with the World Bank’s Vienna-based Financial Sector Advisory Centre (FinSAC). This platform aimed at addressing the non-performing loan problem and improving the related ratio.
Close cooperation with FinSAC’s experts aims to deeply and professionally restructure and improve the non-performing loan management.
The FinSAC was established by the World Bank with the purpose to provide technical assistance on the regulation and supervision of the financial sector to central banks and financial regulators in Europe and Central Asia.
Source: Bank of Albania