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Sep 21, 2023 15:02 EEST
September 21 (SeeNews) - The Albanian financial supervision authority AMF has licensed Intesa Sanpaolo Bank Albania (ISBA) and Eurizon Capital to grant Albanian investors access to collective investment funds in the European Union, ISBA said on Thursday.
Intesa Sanpaolo Bank Albania, a wholly-owned subsidiary of Italian international banking group Intesa Sanpaolo, will offer selected shares in investment funds (SIKs) based in Luxembourg, issued by Intesa Sanpaolo’s asset management division, Eurizon Capital, ISBA said in a press release.
SIKs are similar to traditional shares of stock, but instead of representing ownership in a company, they represent ownership in a portfolio of assets held by the investment fund.
AMF has also approved the recognition of Eurizon Capital as a management company in Albania. The move aligns with Eurizon’s plans to expand its activities, ISBA noted.
Intesa Sanpaolo Bank Albania is the fourth largest lender in Albania in terms of assets in the end of the second quarter, according to figures by the Albanian banking association.
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