United Bank of Albania explained

United Bank of Albania
Type:Privately held company
Location City:Tirana
Location Country:Albania
Industry:Financial services
Products:Banking services

The United Bank of Albania, formerly known as the Arab-Albanian Islamic Bank, is an Albanian bank that provides banking services with headquarters in Tirana.

In 2021, United Bank of Albania had a market share of 0.67%, making it the smallest bank in Albania.

History

The bank was founded by the state-owned National Commercial Bank of Albania (NCBA) and a group of Islamic investors. In 2000 NCBA was privatized and its 40% stake in UBA was acquired by the Ministry of Finance. In March 2009 the Ministry of Finance agreed to sell 40% of its shares to the Islamic Development Bank.[1]

Notes and References

  1. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=21988056 Company Overview