Kosovo: acquisition of local banks continues

Prishtina, 14 May 2007 – Officials of the Central Banking Authority of Kosovo (CBAK) stressed that powerful banks will raise the competition in the banking sector in Kosovo.

In April 2007, the ‘Nova Ljubljanska Banka” bought 50,14% shares of the Kasabank and is currently negotiating with officials of “Banka e Re e Kosoves” (BRK) for the same purpose, to buy most of the shares of this bank.

Director of BRK, Albert Lumezi, stressed that the contract signed between BRK and the strategic partner is confidential and forbids both parties to reveal data before the transaction is concluded. Lumezi also stressed that foreign capital in the banking sector is very important. “The clients of the bank will benefit most, because the competition in the banking system will increase and offer better loan conditions,” said Lumezi.

The deputy director of CBAK, Hashim Rexhepi, stressed that all foreign banks operating in Kosovo will act in compliance with the regulation of the banking system in Kosovo.

The Slovenian “Nova Ljubljanska Banka” is the third foreign bank in Kosovo, after Pro Credit and Raiffeisen Bank.