TIRANA (Albania), April 1 (SeeNews) – Albania’s Credins Bank has entered into an agreement for the purchase of 5% of securities settlement system operator ALREG, increasing its stake in the company to 52.5%, the country’s competition regulator said.
The transaction is subject to approval by the competition authority, it said in a press release on Monday.
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The 5% stake in ALREG is held by the head of private Albanian Securities Exchange (ALSE), Artan Gjergji, the competition authority added.
The remaining 47.5% is controlled by the American Bank of Investments, a unit of Albania's Tranzit.
Credins Bank was the third largest bank in Albania at the end of September 2019, holding 14.4% of the total assets of the country's banking system, according to Bank of Albania latest available data.
Established in 2016, ALREG is a securities settlement system operator for all securities allowed under the securities law and in accordance with the license granted by the Albania’s Financial Supervisory Authority, according to information posted on the country’s business register.
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