November 22, 2017 / 8:40 PM / 25 days ago

Amryta Capital buys stake in Albania’s Credins Bank

TIRANA, Nov 22 (Reuters) - Albania’s central bank said on Wednesday it had given preliminary approval for British-based Amryta Capital LLP to buy 14.9 percent of Credins Bank, the Balkan country’s third-largest lender.

Amryta Capital will buy 100 percent of the shares of Balkan Financial Sector Equity (BFSE) B.V., which is based in the Netherlands and has been a Credins Bank shareholder since 2008. The Swiss Investment Fund for Emerging Markets (SIFEM AG) also holds a stake in the bank, the rest of whose shareholders are Albanian.

Credins described itself as Albania’s third biggest bank in 2016 ranked by assets, deposits and loans. It is the majority shareholder of the Albanian Stock Exchange (ALSE), which is expected to start trading government securities in December.

Artan Santo, Credins’s manager and founder in 2003, was shot dead three years ago as he stepped from a car outside his office by a man who fled on a motorcycle driven by an accomplice. His killers have not been found. (Reporting by Benet Koleka; Editing by Catherine Evans)

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