TEB Bank enters Kosovo

Prishtina, Kosovo – The Central Banking Authority of Kosovo (CBAK) has informed that it has come to the decision to grant the full license to operate to “TEB Banka” following the preliminary license provided by the CBAK Board of Directors back in September. According to the Board, the bank fulfils all requests specified by the rules and regulations applicable in Kosovo. CBAK also informed that the TEB banking services will from now on be subject to the supervision of CBAK.

Sources from the bank said for Kosovar media that hey intend to apply much lower interest rates for loans than those applied by other banks in Kosovo during the last seven years. The annual interest rate on loans will be 8% as apposed to the usual 13% in Kosovo, reported the newspaper Kosova Sot.