Page 30 - BKT Annual Report 2024 EN

Business Banking

Directorate

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

30 BANKA KOMBËTARE TREGTARE