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The Albanian Deposit Insurance Agency signs contracts with agent banks selected in the preliminary list.

30.01.2018

The Albanian Deposit Insurance Agency signs contracts with agent banks selected in the preliminary list.

The Albanian Deposit Insurance Agency has signed contracts with agent banks which have been selected winners from the procedure conducted for this purpose, in the framework of regulation “On the compensation of insured deposits”, approved by the Governor of the Bank of Albania through order no. 3762, date 18.07.2016. Through this procedure, the National Commercial Bank, Raiffeisen Bank and Intesa Sanpaolo Bank Albania have been selected in the preliminary list for carrying out the payout of insured depositors in the compensation process.

The agent bank is a very important element in the compensation process, if the need for such a process arises in the future. The agent bank will be the bank that will pay out depositors on behalf of the Agency, in the event a subject member of the deposit insurance scheme is put under compulsory liquidation through a decision of the Bank of Albania (Supervisory Authority).

The selection process of the agent bank undergoes two phases. The first phase is the assessment of the banks members of the scheme which have presented their interest in the process, in accordance with general and technical conditions as envisaged by regulation “On the compensation of insured deposits”. This phase was concluded by the selection and signing of contracts with these three banks. After being put in the preliminary list, these banks will continue their day-to-day activity as usual and will be put on hold for an eventual insurance event. Among others, the banks will be requested to prepare and train for a payout scenario in accordance with the contracts’ terms of reference, which also includes participation in a simulation exercise of an insurance event organised by the Agency.

In the second phase, in case of an insurance event, these three banks will be requested to submit offers with regard to carrying out the payout of depositors in the compensation process. After consideration of the offers received, the Agency will choose which bank will be selected.   

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

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