The CBK informed new bankers of its operating manner and role in economy

In the framework of the Global Money Week activities, the officers of the Central Bank of the Republic of Kosovo delivered a lecture aimed at financial education of new bankers of “Banka Private e Biznesit”. The CBK officers explained to new bankers the CBK role and responsibilities. “The mission of the Central Bank of the Republic of Kosovo is to maintain the financial stability, to ensure an effective payment system and supply of cash, as well as to provide economic advices to the Government and other public entities. Even though not involved in designing, printing and cutting the Euro banknote, the CBK ensures the adequate quantity and quality of Euro banknote in the country. In 2002, the CBK established the interbank payment system, whereas in 2011 the CBK became member of SWIFT,” stated Nexhat Miftari, Chief of the Cabinet of CBK Governor.

Miftari spoke also about the banking supervision, stating that 10 banks are currently licensed in Kosovo. Out of this number, 8 are with foreign capital and 2 banks with domestic capital.

“In January 2019, total funds of the banking sector amounted to EUR 4.163 billion, thus marking an annual increase of 7.6% compared to the January 2018. In January 2019, total (gross) loans amounted to EUR 2.75 billion, thus marking an annual increase of 11.4%. In January 2019, the deposits amounted to EUR 3.348 billion, thus marking an annual increase of 8.4%. In January 2019, Non-Performing Loan ratio was 2.6%, and 3.1% in January 2018”, stated Miftari.

He stated that bank capital levels are sufficient to support their risk profile, as they are above the required regulatory minimum.

Also, Miftari informed new bankers of legal and regulatory amendments, including the entry into force of the International Financial Reporting Standard (IFRS) 9, Regulation on Bank Capital Adequacy, Regulation on the Leverage Ratio and Regulation on the Internal Capital Adequacy Assessment Process for Banks, which will enter into force on 1 January 2020.

New bankers asked questions about numerous processes executed by the CBK.