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Impact of the Latest Financial Crises on a Bank-Based Financial System: Case of Albania

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Author(s): Rovena Bahiti | Rezarta Shkurti (Perri) | Juljana Babasuli

Journal: The Romanian Economic Journal
ISSN 1454-4296

Volume: XIV;
Issue: 39;
Start page: 3;
Date: 2011;
Original page

Keywords: economic stability | banking sector | financial crises | macroeconomic indicators.

ABSTRACT
Since 2007 the world is facing a financial crisis with serious impact on the global economy. The Albanian economy is small; however, it is a part of the global economy. The effects of the crisis on the economic sectors especially on the financial system of Albania are of interest to many. In this paper we try to analyze the main areas of the banking sector and its key indicators affected by the crisis. We find that even though the crisis has touched Albania it has not considerablylowered the resilience of its banking system as no Albanian bank did go bankrupt or had any solvency issues. In addition, the latest months of 2010 have shown a recovery testifying for the effectiveness of the measures undertaken by the regulatory and supervisory authorities of the Albanian banking systems.
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