British Amryta Capital LLP increases its stake in Albania's third-largest Bank

British Amryta Capital LLP increases its stake in  Albania's third-largest Bank
 British Amryta Capital LLP has become the main shareholder of Credins Bank, through direct and indirect participation, owning 23,247 percent of Albania's third-largest Bank.

After got indirectly 14,918 percent of the shares by Credins in 2017, through the acquisition of the 100 percent shares of BFSE Holding BV, Netherlands, which is a shareholder of Credins Bank, the British have gradually acquired directly from other shareholders about 8% of the shares.

The news has been announced by the Bank of Albania, which has given prior approval to increase the influential (direct and indirect) shareholding of British shareholder Amryta Capital LLP, from 14,918 per cent to 23,247 percent, in Credins Bank share capital. JSC The decision has been taken by the Supervisory Council of the central bank at its meeting on December 4, 2019 on the basis of and for the application of the letter "e" of Article 43 of Law no. 8269, dated 12.23.1997, “On the Bank of Albania”, as amended; of letter "h", point 1, article 24, and article 25, Law no. 9662, dated 12.11.2006 “On Banks in the Republic of Albania”, as amended; and Regulation “On licensing and exercising the activity of banks and branches of foreign banks in the Republic of Albania”.

On the proposal of the Supervision Department, the Supervisory Council of the Bank of Albania has decided to grant prior approval to increase the influential (direct and indirect) participation of the shareholder Amryta Capital LLP, United Kingdom, from 14,918 per cent to 23,247 per cent, in the share capital of Credins Bank sh.a.

According to the decision, Credins Bank sh.a. notify the Bank of Albania of the fulfillment of all rights and obligations by the seller and the buyer.

British Amryta Capital LLP increases its stake in  Albania's third-largest Bank

In May 2018, Amryta Capital LLP acquired 2.34% of the shares from its major shareholders Alexander Pilo and Renis Tërshana, according to statements by the National Business Center (NBC) and then increased it to 3.09%, buying the shares to individuals with the surname Bushati. Amryta has also acquired recently a 4.7% stake by also Alexander Pilo, Renis Tërshana and Bushati. This latest move has not yet been reflected in the NBC, but has been approved by the Bank of Albania.
British Amryta Capital LLP increases its stake in Albania's third-largest Bank British Amryta Capital LLP increases its stake in  Albania's third-largest Bank Tuesday, December 17, 2019 Rating: 5
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