Bank of Albania

Deposits, Savings Are Secure; BoA Assures Citizens

The Bank of Albania said citizens' deposits and savings in the banking system are secure, and that payment services continue to function normally - despite damage to certain bank branches and automated teller machines (ATMs) during incidents linked to youth protests in recent days.

In a public statement, the Bank of Albania said it is monitoring recent developments in the country with close attention and concern, emphasizing that the safety of citizens, clients, and financial institution employees remains a priority.

"The Bank of Albania assures the public that payment services have continued to function normally and without interruption, ensuring that the banking system fulfills its role as an essential component for business economic activity and the consumption needs of households," the statement reads.

According to the Bank of Albania, damage to physical infrastructure at certain bank branches does not compromise the security of client deposits, nor does it affect the financial stability of the banks. Citizens can rest assured that their savings are protected and are not at risk due to physical damage to bank premises. In the exercise of its legal responsibilities, the Bank of Albania maintains continuous communication with commercial banks and relevant institutions, closely monitoring the situation and the measures taken to ensure the safety of employees, clients, and banking infrastructure. Temporary service restrictions at certain branches are due to the need to protect the physical safety of employees and clients. The Bank of Albania encourages citizens and businesses to follow official announcements from their respective banks and to make maximum use of alternative banking channels.”

“The banking system is a pillar of fundamental importance to the economy and the lives of citizens. Behind every bank branch, every payment, or every transaction, there are families managing their savings, individuals receiving their salaries and pensions, businesses paying their employees and continuing their operations, as well as enterprises investing and creating jobs. The normal functioning of banks is directly linked to the well-being of citizens, the continuity of economic activity, and confidence in the future,” states the announcement from the Bank of Albania. The Bank of Albania, as an independent institution serving the public interest, performs essential functions for maintaining price stability, financial stability, and payment services. In light of this mission, the Bank of Albania calls upon all citizens - while exercising their right to peaceful protest - to respect and safeguard the security of the Bank of Albania, banking institutions, their premises, infrastructure, and employees. Protecting these institutions means preserving the services and functions that belong to and serve everyone.

The Bank of Albania remains fully committed to fulfilling its mandate to maintain financial stability and ensure the safe and stable operation of the banking system. It will continue to monitor developments responsibly and cooperate with relevant institutions to support the continuity of banking services and uphold public confidence in the financial system.

Public trust and security are the foundation of a stable banking system. Preserving this trust, as well as the institutions that serve the public, is in the common interest of the entire society, the Bank of Albania emphasizes in its statement.