Prof. Ass. Dr. Bajram Muçaj

 
Dear Shareholders, Clients and Partners,

The year 2024 was another challenging year both for Fondi Besa and the entire Albanian economy. This year continued to bear the consequences of the previous year’s problems, the ongoing effects of the pandemic, but also the consequences of geopolitical conflicts, factors that brought about huge human and social costs, shook the geopolitical balances but also produced a new economic reality.

However, the reality in 2024 was characterized by a decline in inflation, marking an average value of 2.1% by the end of the year, a decrease in the base interest rate to 2.75%, and an appreciation of the local currency compared to the two main currencies, the Euro and the Dollar. The gross domestic product experienced a growth of 4.1%.

In this economic reality, with its improvements and challenges, Fondi Besa continued its lending activities in support of clients and their business development.

Financial support for our clients in 2024 was considerable. We offered over ALL 8.2 billion in new loans with a total of approximately 16,774 loans during the year, which directly impacted the growth of small businesses, the creation of new jobs, and the increase in self-employment levels. This brought the loan portfolio to ALL 14,803,028,088 billion and around 27,500 active loans. These are indicators that show that clients’ trust in the quality of the services/products of Fondi Besa is increasing every year.

The economic uncertainty that has characterized recent years has intensified our focus on supporting clients. Throughout 2024, we have been persistent and consistent in our commitment to providing the needed customer service, innovative financial products, and the necessary financial expertise. During 2024, we engaged in expanding products dedicated to our clientele, launching new products and services to help them manage this challenging period.

Throughout 2024, we continued to pay attention to the social responsibility of the institution, supporting various activities in the fields of art, culture, sports, the environment, marginalized categories, and initiatives that directly impact social development and well-being. In the context of social responsibility, we continue to offer Youth Loans, Loans dedicated to Women in Business or for consumer purposes, Loans for Housing Investments, and Loans for start-up businesses, aiming to include potential clients who have a good business idea and want to finance it, even if they do not have a credit history.

During 2024, Fondi Besa launched the Digital Loan with the aim of quickly meeting the consumer needs of our market, online and with ease in documentation and collateral. However, the focus of Fondi Besa will continue to remain on lending for the development of small and medium-sized enterprises, which are pillars of the Albanian economy.

Likewise, during this year we have demonstrated our awareness towards the environment, preventing the financing of all those activities that bear a negative impact on the environment and by encouraging our customers to care and protect the environment in which we live. The Loan for Housing Investment consists in the improvement of housing conditions through energy efficiency systems. We have embraced the challenge to protect the environment for years, by modestly offering the green loan, within the framework of various projects and we are working to launch the specific product “Green Loan” on the market next year.

In addition to developing new products, improving existing ones, investing in strengthening excellent customer relations, we have made significant investments in information technology, professional development of staff, recruitment of employees with expertise, but also new talents, in order to ensure that we remain an important factor in the microfinance industry in Albania.

The results achieved by Fondi Besa during 2024 show once again the sustainability of our institution, the dedication and professionalism of all our employees, the resilience and excellent performance for achieving objectives and the strength of the medium and long-term strategy. We will continue to implement our long-term strategy to provide service and products to meet the needs of our market, we will continue efforts to build stronger relationships with customers in order to increase their commitment and loyalty by studying what are the customer needs and the development of a professional team.

Finally, on my own behalf and on behalf of the management team of Fondi BESA, I would like to express my heartfelt thanks to all our employees for their work and dedication, to our customers and shareholders for their trust and support even in these difficult years, as well as to the Supervisory Council, for the continuous support it has given us. I would also like to thank and express my gratitude to all public institutions and the Bank of Albania, for the excellent cooperation during this year.
Believing that 2025 will be a more promising year, Fondi BESA is optimistic that it will continue to achieve its objectives to further increase its activity, in line with new market developments, in support of its clientele by encouraging sustainable growth that will bring mutual benefits to all.

Sincerely,

Prof. Ass. Dr. Bajram MUÇAJ
Executive Director