Turkish Bank Ziraat seeks to enter the Albanian market - Rrapaj: It will increase financing in the agricultural sector
A new bank has requested to become part of our country's banking sector. According to the Bank of Albania, Turkish agricultural bank Ziraat has submitted a request to establish a branch in Albania, while Slovenian Nova Lubjanka Bank (NLB) and the Estonian IUTE Group have expressed interest in previous years to acquire other existing banks.
In an interview with Scan Television, the Chairman of the Albanian Agribusiness Council, Agim Rrapaj, stated that an agricultural bank, like Ziraat, is necessary to increase financing for businesses in the agricultural field.
"The sector continues to not perform according to its capacities, it continues to be in the red in recent quarters, the agricultural sector, and the potentials are what I mentioned, there are very large potentials that are ready for financing. It is almost a ready market that targets these sectors, as is Ziraat."
Rrapaj suggests creating a state investment bank or having existing banks in Albania have branches specialized in lending to the agricultural sector.
"It is imperative for existing banks to open branches, to specialize in special branches for the food economy. On the other hand, it is very important that the state should now think about an investment bank for the agricultural sector and the food sector as a whole, where all the funds that come in, grant funds, state funds, specialized and intended for agriculture, should be managed by this state bank."
A total of 11 commercial banks operate in Albania, most of which are foreign-owned.
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