BANKA KOMBETARE TREGTARE
In the five years since it was privatised in late 2000, Banka Kombetare Tregtare (BKT) has produced a healthy average return on equity (RoE) of 27%, with a strong showing of 29% in 2005 and 40% in early 2006.
Net profits grew by 68% in 2005 and the bank increased its market share in loans to 11% and strengthened its loans-to-deposits ratio to 27%.
While tripling its number of outlets, the bank has kept costs under control and has introduced a range of new products focusing on Albania’s large migrant worker population. It has developed special mortgages and consumer loans for the expatriate sector, as well as a fast consumer loan product for the relatively untapped individual banking market. It has also developed a new mortgage for unregistered new construction, which constitutes a major part of home purchases.
“We are happy to be selected for the prestigious award of Bank of the Year in Albania,” says CEO Seyhan Pencapligil. “It is especially important in the context of BKT’s continued and steady growth and profitability over the past several years. Last year was yet another good year, in which both total assets and net profit grew by more than 30%. We are now focusing on retail banking and international expansion. We want to be the bank of ordinary people in Albania and abroad. With our simple but effective business model – that of employing the best people and keeping them happy – I have no doubt we will continue our success story.”
