Hungarian 4iG, OTP Bank performs well in Albania

National Economy Minister Márton Nagy met with a number of Albanian ministers and the governor of Albania’s central bank during a visit to Albania on Thursday, his minister said in statement on Friday.

Nagy met with Blendi Gonxhja, the minister for economy, culture and innovation; Petrit Malaj, the finance minister; Anila Denaj, the minister for agriculture and rural development; and Gent Sejko, the governor of the central bank.

The sides discussed bilateral economic ties, areas in which cooperation could be enhanced, and the state of Albania’s European Union integration.

Hungarian-Albanian ties are strong and there are over 20 state, intergovernmental or interministerial agreements between the two countries, the ministry said. Cooperation between the waterworks companies of Budapest and Tirana is “stable, fruitful and constructive”, it added.

Hungarian 4iG, OTP Bank performs well in Albania
Photo: MTI

The government offers 20 scholarships a year to Albanian students to enroll at Hungarian universities. The advancement of bilateral ties have also been supported by a direct Wizz Air flight between Budapest and Tirana launched with the support of the Hungarian government in 2021, the ministry said.

Last year, bilateral trade between Hungary and Albania reached EUR 130m. Hungarian-owned OTP Bank Albania is the country’s fifth-biggest credit institution in terms of total assets, while Hungary’s 4iG leads the mobile and fixed-line telecommunications markets.

Hungary backs the EU integration of Albania and the Western Balkans, Nagy said, adding that it was in the EU’s interest for those dynamically expanding economies to join as soon as possible.

Read also:

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