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Supervision Annual Report 2013 Bank of Albania SUPERVISION 2013 ANNUAL REPORT Bank of Albania 1 2013 Supervision Annual Report Reproduction is permitted provided the source is acknowledged. Bank of Albania, Sheshi “Avni Rustemi” Nr.24, Tiranë, Shqipëri Tel.: + 355 4 2419301/2/3; + 355 4 2419409/10/11 Fax: + 355 4 2419408 E-mail: [email protected] www.bankofalbania.org Printed in: 350 copies printed by AlbDesign.. 2 Bank of Albania Supervision Annual Report 2013 CONTENTS 1. MISSION OF SUPERVISION 7 2. MAIN PROJECTS INVOLVING THE SUPERVISION DEPARTMENT DURING 2013 9 2.1 Financial System Assessment Process 9 2.2 Compliance with Development Policy Loans criteria 11 2.3 Transition from Basel I to Basel II 11 2.4 Vienna Initiative 12 2.5 Treatment of non-performing loans 14 2.6 Risk-based supervision 14 2.7 Guidelines on loan restructuring 14 2.8 Recovery plans 15 3. REGULATORY FRAMEWORK AND LICENSING 16 3.1 Regulatory framework 16 3.2 Licensing 18 4. PERFORMANCE AND RISK ANALYSIS IN THE BANKING SYSTEM AND NON-BANK FINANCIAL INSTITUTIONS 23 4.1 Albanian banking system highlights 23 4.2 Equity ownership structure by country of origin 24 4.3 Banking system structure 24 4.4 Management of banking activity risks 27 4.5 Non-bank financial institutions and savings and loan associations 45 4.6 On-site examinations 49 4.7 Anti-money laundering and transparency 51 4.8 Credit Registry 54 Annex 1. Organisational Structure of Supervision Department 57 Annex 2. Each bank’ s specific share in the banking system 58 Annex 3. Assets and liabilities 59 Annex 4. Core financial indicators 61 Annex 5. Banks’ shareholders 62 Annex 6. Data on the shareholders/partners of the non-bank financial institutions 63 Annex 7. Geographic distribution of branches and banking agencies within the territory of the Republic of Albania by prefectures 64 Annex 8. E-banking products approved by the Bank of Albania 64 Annex 9. Distribution of e-banking products/services by commercial banks as at end-2013 65 Annex 10. Entities licensed by the Bank of Albania by year 65 Annex 11. Banking system statistical indicators till 2013 65 Annex 12. Bank network as at end 2013 66 Annex 13. List of banking supervision regulations in force as at December 2013 67 Annex 14. Banks and branches of foreign banks licensed by the Bank of Albania 70 Annex 15. Non-bank financial institutions 75 Annex 16. Unions of savings and loan associations 81 Annex 17. Savings and loan associations 82 Annex 18. Foreign Exchange Bureaus 91 Bank of Albania 3 2013 Supervision Annual Report B O X E S Box 1. Core Principles for Effective Supervision and their Assessment 10 Box 2. Vienna Initiative II and the contribution of the Bank of Albania 12 Box 3. Impact of macro-prudential measures on boosting lending 35 T A B L E S 3. REGULATORY FRAMEWORK AND LICENSING Table 1 Number of money transfer agents as at end-2013 22 4. PERFORMANCE AND RISK ANALYSIS IN THE BANKING SYSTEM AND NON-BANK FINANCIAL INSTITUTIONS Table 2 Total banking system assets and loans as a percentage of GDP 25 Table 3 Key banking system asset items 25 Table 4 Key banking system liability items 26 Table 5 Change in off-balance sheet items during 2013 26 Table 6 Herfindahl Index of asset, deposit and loan concentration 27 Table 7 Quarterly credit growth in 2013 27 Table 8 Lending by sector and purpose of use 28 Table 9 Structure of outstanding loans by maturity 28 Table 10 Structure of outstanding loans by currency 29 Table 11 Share of outstanding loans by rate 31 Table 12 Type of collateral by sector and currency 33 Table 13 Loan to deposit ratio 37 Table 14 Up to one and three-month maturity gap for the banking system 39 Table 15 Shareholders’ equity and its components 42 Table 16 Banking system risk-weighted assets 43 Table 17 Main profitability ratios 44 Table 18 Profitability ratios from main activity 44 Table 19 Average profitability ratios 44 Table 20 Efficiency ratio 45 Table 21 Total assets of NBFIs classified by their main activity, December 2012 -December 2013 46 Table 22 NBFIs’ loan portfolio, net and gross, December 2012-December 2013 46 Table 23 Loan portfolio quality ratios, December 2012-December 2013 47 Table 24 Number of SLAs and members, December 2012-December 2013 48 Table 25 Assets of unions and SLAs’ network, December 2012-December 2013 48 Table 27 Website address of banks providing information to customers 53 Table 28 Number of queries submitted to the Credit Registry by the reporting institutions 55 4 Bank of Albania Supervision Annual Report 2013 C H A R T S 3. REGULATORY FRAMEWORK AND LICENSING Chart 1 Financial and banking sector structure and ownership 19 Chart 2 Number of bank branches/agenciesin years 20 Chart 3 Geographical distribution of resident population and of bank branches/ agencies’ network 21 Chart 4 Foreign exchange bureaus through the years 21 Chart 5 Geographical distributions of foreign exchange bureaus in 2013 21 4. PERFORMANCE AND RISK ANALYSIS IN THE BANKING SYSTEM AND NON-BANK FINANCIAL INSTITUTIONS Chart 6 Equity ownership structure by country of origin and performance 24 Chart 7 Monthly credit growth in 2013 27 Chart 8 Outstanding loans to businesses and households, as a percentage of total loans 28 Chart 9 Volume of outstanding loans by maturity and by currency 29 Chart 11 Loans by branches of the economy and non-performing loans by branches of the economy 30 Chart 12 Non-performing loans and loan portfolio growth 30 Chart 13 Outstanding non-performing loans in the banking system 30 Chart 14 Loan loss provisions 31 Chart 15 Net non-performing loans to regulatory capital 31 Chart 16 Outstanding non-performing loans to businesses and households 32 Chart 17 Share of non-performing loans by currency 32 Chart 18 Quarterly performance of ‘Foreign currency non-performing loans unhedged against the exchange rate risk to outstanding foreign currency loans unhedged against the exchange rate risk 32 Chart 19 Loans secured by collateral, by type 32 Chart 20 Customer deposits 36 Chart 21 Deposits by remaining maturity 36 Chart 22 Deposits in three major currencies 37 Chart 23 Liquid assets by item and liquidity ratio 38 Chart 24 Liquid assets by currency 38 Chart 25 Up to three-month maturity gap by currency, and the asset-liability gap by maturity 39 Chart 26 Shareholders’ equity 41 Chart 27 Capital adequacy ratio and its components 42 Chart 28 Risk-weighted off-balance sheet items 43 Chart 29 Number of reportings of suspicious activities across the years 51 Bank of Albania 5 2013 Supervision Annual Report 6 Bank of Albania Supervision Annual Report 2013 1. MISSION OF SUPERVISION As the central bank of the country, the Bank of Albania carries out the supervisory function pursuant to the Law on the Bank of Albania No 8269, dated 23.12.1997, amended, and the Law on banks in the Republic of Albania No 9662, dated 18.12.2006, amended. In compliance with its legal responsibilities as the supervisory authority of banks and other financial institutions licenced by it, the Bank of Albania: • Aims at ensuring a sound banking activity, by drafting and implementing relevant policies and appropriate and flexible regulatory framework, in line with the country’s development dynamics to safeguard the soundness of banks and the stability of the banking system and beyond, as well as to prevent financial crisis in this sector and protect depositors; • Contributes to the stability of the banking system and beyond, by monitoring market developments and recommending necessary measures for institutions it supervises to adapt to such developments and be managed according to the best practices; • Promotes market discipline by requiring enhanced transparency for banking and financial products and services; • Contributes to fair competition among institutions it supervises and aims at ensuring equal treatment of institutions it licenses and their customers, in compliance with the relevant supervisory policies and rules in force. In this context, it is guided by the principle that the same types of financial risks and other issues related to regulation are subject to the same rules across all segments of the market, to reduce the potential for regulatory arbitrage. The Bank of Albania fulfils its supervisory function by: a) Drafting and improving the regulatory and supervisory framework, to align it to the European directives for effective supervision, the country’s specifics, and the best practices; b) Regulating the entry into the market of potential banks, shareholders and administrators that have a good reputation based on verifiable and reliable information; Bank of Albania 7 2013 Supervision Annual Report c) Conducting a proactive and effective supervision, by implementing principles of risk-based supervision through regular on-site examinations and off-site analysis of licensed institutions’ indicators, and through corrective measures to address the various concerns; d) Cooperating with supervised institutions, other domestic financial institutions, foreign supervisory authorities, and foreign banks operating in the Republic of Albania through their branches or subsidiaries. In complying with the supervisory function requirements, the Bank of Albania strives for the highest level of integrity, professionalism, efficiency, transparency and constant improvement of its supervisory capacities. 8 Bank of Albania Supervision Annual Report 2013 2. MAIN PROJECTS INVOLVING THE SUPERVISION DEPARTMENT DURING 2013 2.1 FINANCIAL SYSTEM ASSESSMENT PROCESS In October-November 2013, the banking system and its supervision were subject to an assessment by the International Monetary Fund and World Bank group. The assessment involved all the segments of the financial system, such as their supervision and alignment with international standards, capacity of public authorities to identify and manage various risks, and inter-institutional cooperation.
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