Union Bank (Albania)

Union Bank
Private
Industry Banking
Founded 2006
Headquarters Tirana
Products Banking services
Website www.unionbank.al

Union Bank was established in Albania in January 11, 2006[1] as the second private bank with Albanian capital. The head office is located in Tirana. It currently employs 349 people and has 31 branches throughout Albania.[2]

History

Union Bank was founded in 2005 by the Financial Union of Tirana (UFT). The initial capital was 17.6 million EUR and the bank had 7 branches in Tirana, Durrës, Elbasan, Fushë Krujë and Fier.

In 2008 the EBRD buys 12.5% of the shares, becoming the 2nd largest shareholder, while the other 87.5% is owned by the Albanian shareholders[3] In 2008 the Bank’s total assets exceeded 100 million EUR. In the following years the total assets further increased, reaching the amount of 256 million EUR in 2014.[4]

The Bank's main strategy is to further expand its network and increase its lending activities with particular focus on the SME sector. The EBRD helps Union Bank, by developing and financing its portfolio of and strengthening the bank's funding base.

References

  1. ↑ "Profil i shkurter". Unionbank.al. Retrieved 30 July 2017.
  2. ↑ "Union Bank Sh.a.: Private Company Information - Bloomberg". Bloomberg.com. Retrieved 30 July 2017.
  3. ↑ "Union Bank Albania". Ebrd.com. Retrieved 2017-07-30.
  4. ↑ "Union Bank : Annual Report 2015" (PDF). Unionbank.al. Retrieved 2017-07-30.
  • "Shtepi". Unionbank.al. Retrieved 30 July 2017.


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