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Intesa Sanpaolo Bank Albania sh.a. initiated the aproval process of the merger by absorption of Veneto Banka sh.a.

10.05.2018

Press Release

Intesa Sanpaolo Bank Albania sh.a. initiated the aproval process of the merger by absorption of Veneto Banka sh.a.

Intesa Sanpaolo Bank Albania initiated on May 10th, 2018 the process of the Merger by Absorption with Veneto Banka by officially filing all the related documents for approval with the Bank of Albania and the duly notification with the National Business Center (QKB).

The Extraordinary Shareholders’ General Assemblies of Intesa Sanpaolo Bank Albania SHA and Veneto Banka SHA gathered respectively on May 4th, 2018, approved the Merger by Absorption of Veneto Banka Albania (Absorbed Company) and Intesa Sanpaolo Bank Albania (Acquiring Company). Intesa Sanpaolo Bank Albania initiated on May 10th, 2018, the procedure of the merger.
 
Mr. Silvio Pedrazzi, CEO of Intesa Sanpaolo Bank Albania, stated: “After getting the final approval by the authorities, we will start to make this merger happen in the smoothest and most effective way, first of all for the Veneto Banka clients. We will use this opportunity to strengthen ties with our existing and new customer base, by offering them our great banking experience, better, innovative, efficient and less costly services.”
 
Intesa Sanpaolo as the sole Shareholder of both VB Albania and ISP Albania, after taking into consideration the current and perspective sustainability and profitability of the business operations of the two entities, decided that VB in Albania will be merged into ISP Albania, which will constitute the sole legal entity after the completion of the merger by absorption, aiming to become the third bank in the country in terms of assets, increasing as well its market share. Intesa Sanpaolo Bank Albania will continue to offer qualitative banking products and services for Retail and Business clients of all segments, enlarging its network of branches by following closely the country’s economic development. 

Intesa Sanpaolo Bank Albania
PR & Marketing Communication Office,
r. "Ismail Qemali" No.27, Tirana, Albania
Tel.: +355 4 2 276 440 
media.relation@intesasanpaolobank.al

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