ALBANIAN GOVERNMENT INVITES EXPRESSIONS OF INTEREST FOR THE PRIVATIZATION OF THE SAVINGS BANK OF ALBANIA

Albania’s Minster of Finance has invited expressions of interest from potential investors for the privatization of the Albania’s largest bank, the Savings Bank of Albania (SBA). The SBA has about 200 branches throughout Albania and approximately 400,000 customers. It operates as a commercial bank and holds about 80% of the country’s deposits. The Albanian government intends to sell at least 35 percent of the Savings Bank to a strategic partner, and up to 49 percent to other international financial institutions. The remaining share will be sold through public offer to local investors.

A competitive bidding will follow the pre-qualification process. The deadline for submitting the documentation is 20 August 2001. For more details about the background on the SBA as well as the application information, please visit www.mac.doc.gov/eebic, or call AATDA for help in gaining further information.