Page 28 - BKT Annual Report 2024 EN

Business Banking

Directorate

In the dynamic 2024, with the banking industry scale infrastructure ventures. Through customized
undergoing unprecedented transformation which loan packages and specialized financial products, we
present both challenges and remarkable opportunities, continued to support transformative projects that
the Albanian economy demonstrated resilience, drive economic progress and create long-term value
recording a GDP growth of 3.6%, driven primarily by for communities. A landmark project continued to
domestic consumption, tourism, and construction. be financed during the year was Vlora International
Inflation remained well-contained at approximately Airport, a strategic infrastructure development aimed
2%, aligning with the Bank of Albania’s target of 3%. To at enhancing Albania’s geo-economic position and
excel in this economic environment, the newly organized accommodating the country’s rapidly expanding
Business Banking Directorate focused on nourishing tourism sector. With 380 km of Adriatic and Ionian
existing and new client relationships by revising the coastline, Albania has experienced a significant surge
existing products and streamlining the processes to in tourism demand, emphasizing the need for critical
better meet their demands and market needs. Tourism, infrastructure investments to sustain this growth. To
Infrastructure and green energy, which continue to play support this transformative initiative, the bank approved
a pivotal role in bolstering confidence in the country’s a long-term financing package, with EUR 35 million
economic outlook, remain our key areas of focus. disbursed by the end of 2024. This investment aligns
with our long-term vision of fostering economic growth,
By the end of 2024, the outstanding volume of business strengthening regional connectivity, and positioning
loans reached USD 536 million, reflecting steady growth Albania as an emerging hub for tourism and commerce.
year-over-year. This increase underscores the bank’s
unwavering commitment to supporting economic TIA as the most important airport in the region, which has
development, providing tailored financial solutions, and registered over 10 million passengers, thus transforming
reinforcing long-term partnerships with businesses to Albania into a key player in the regional aviation industry
facilitate sustainable expansion. was the other project continued to be financed during
this year.
INNOVATION AND DIGITAL TRANSFORMATION
Drawing on our corporate and commercial experience STRENGTHENING INSTITUTIONAL PARTNERSHIPS
and expertise, we have crafted a comprehensive trend In parallel, the bank played a key role in reinforcing
overview, diving deeper into the key technological partnerships with public institutions and central and local
trends shaping future banking. Strategic investments government by introducing innovative banking services
in technology and digital banking solutions have been and advanced IT solutions. Our involvement in digital
instrumental in enhancing service efficiency and infrastructure projects underscores our commitment
expanding access to financial services for business to modernizing key sectors of the economy and further
clients. The continued development of alternative strengthening our position as a trusted financial partner.
banking channels has streamlined transactions,
particularly in International Money Transfers (IMT), OUTLOOK FOR 2025
which recorded a significant increase in total volume Looking ahead, the Business Banking Directorate
compared to 2023. Moreover, the bank further remains dedicated to:
strengthened its position in Trade Finance, leveraging its • Open Banking: Open banking is transforming
expertise to assist clients in structuring and optimizing financial services landscape by enabling data sharing
their trade-related financial needs, while effectively between banks and third-part providers. This fosters
mitigating risks in international transactions. We also innovation, competition and customer choice,
provide innovation additional services to our debit leading to the development of new and improved
cards customers implementing unique code usage. This financial products and services.
ensures that we are consistently ahead of the fintech • Delivering tailored financial solutions and banking
innovation curve and stay abreast of the aspirations and products that support business growth and
challenges facing existing services providers. Our bank sustainability.
also solidifies this year the position in this evolving digital • Navigating an evolving economic landscape with
market by becoming more agile, efficient and customer a commitment to long-term value creation for our
centric. clients and the wider economy.
• Strengthening financial partnerships and reinforcing
FINANCING STRATEGIC INVESTMENTS AND institutional relationships.
INFRASTRUCTURE
Environmental, social and governance (ESG) are crucial As we move into 2025, we will continue to leverage our
points of our bank policy. In line with this, throughout expertise, digital transformation initiatives, and client-
2024, the bank remained committed to financing high- centric approach to further enhance Albania’s financial
impact investment projects, with a strong focus on ecosystem and contribute to the nation’s sustainable
sustainable initiatives, renewable energy, and large- economic progress through

28 BANKA KOMBËTARE TREGTARE