American Bank of Investments successfully concludes the transaction for the purchase of NBG Bank Albania
After receiving approval from the Bank of Albania on 6 June, 2018, the American Bank of Investments announced today the successful closure of the transaction to purchase NBG Albania.
NBG Albania has been operating in the Albanian market since 1996 and is renowned for innovative individual loans. It has a broad base of deposit customers and an extensive branch network in the main cities of Albania.
Commenting on the transaction, Gregory Katz, ABI shareholder representative, said, “This agreement demonstrates the confidence in the Albanian banking market and the Albanian economy of one of the largest American investors in Albania and the region. The customers of the two banks have received this transaction very well, one that will enable the release of unique synergies between ABI and NBG Albania. These synergies enabled by specialized and dedicated staff will create the largest boutique bank in the country. ABI has, over the past two years, become a success story, marking record growth of deposits, profits, liquidity, and equity. ABI expresses its determination and dedication to the high quality of customer service.”
Kerameus & Partners, Athens, Greece, acted as ABI legal consultant in this transaction.
Since 1993, NCH Capital has been one of the largest investors in the region. NCH has operated companies in Albania since 2007. In the financial and banking sector, NCH Capital has a long experience in Romania, Moldova, Ukraine, Latvia, and Albania.