Best Practice: Credins Bank Albania
It takes two to tango! Rinald Gjyli, Head of Treasury at the Albanian Credins Bank, talks about success on the international stage thanks to a strong partnership with RBI.
When and why did the idea of operating internationally from the CEE region arise?
Rinald Gjyli: Since the founding of our bank in 2003, the necessity to reach the international financial markets, for customer payments, trade finance operations and to be part of the global markets for FX and money market deals, was a vital challenge for us. We wanted to offer a qualified and professional service to our customers and be a leader on the local banking sector.
What were the first steps in the expansion?
RG: As a new bank, we had to be able to process the customer payments not only locally by being part of national clearing systems, but also outside of Albania. So we had to find support and solutions for our international daily banking operations to fulfill our customer’s requirements for most of the banking products – at a reasonable price, with convenient service and fast processing all over the world.
What was the biggest challenge?
RG: The biggest challenge at that time was to find a partner, a reliable international bank with a wide network and a solution-oriented approach. As Albania was starting to develop its financial banking system in high speed, Credins Bank had its scope to be well positioned in the local market and aimed to grow and expand quickly, becoming a leader bank in Albania.
At what stage of the expansion did RBI come into play?
RG: We have an old saying in Albania: “Who seeks shall find”, so we were lucky to find Raiffeisen Bank International, ready to offer products in our region, including Albania as a country, and after negotiations with RBI’s team of the Institutional Clients division, we opened our bank’s accounts and started operating.
What would you do differently next time?
RG: We think we did it right and wouldn’t change our actions. Our good cooperation and development of Credins Bank is a live testimony of our first choice.
What were the particular advantages of RBI's support?
RG: Among the professional support, the advantage of RBI was the very friendly communication, taking time to listen to our needs, and fast delivery of product options to our bank. The face-to-face meetings with the country manager in charge and our team is a real strength of RBI, as the personal contact is well known to be much more productive and effective for a long lasting relationship. The prompt replies to our enquiries were something that gave us competitive advantage in our local market.
Which RBI services are utilized for your business?
RG: Opening accounts in various currencies, processing of international payments (also multi-currency), trade finance operations (either by being the confirming or the issuing bank), limits for FX trade and MM placements, banknotes business. We were very satisfied with the trade finance operations, where the excellent expertise, prompt actions and wide network helped us being one of the most important financial institutions in the country, offering such products to our corporate customers in the most safe and efficient way of delivery.
What would you recommend to other institutions looking to expand globally from the CEE region?
RG: If you want to have success in your local market, you need RBI as a partner to achieve your goals. It takes two to tango!
What are the next plans regarding further expansion?
RG: We continue to expand our product range and increase our business volumes with RBI. We plan to expand to derivative products in coming months and further to the new payment products.
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