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Türkiye's largest state-run bank, Ziraat, announced Friday that it has secured an establishment license from the Bank of Albania to open a new branch in the capital city, Tirana.
The move will expand Ziraat's presence in the Balkans to six countries, following existing operations in Bulgaria, Kosovo, Montenegro, Greece, and Bosnia and Herzegovina, and its global footprint to 21, the bank stated.
The move is part of Ziraat Bank’s broader strategy to strengthen its international network and support Türkiye’s growing foreign trade and investment links with the Western Balkans.
“Over 20% of Türkiye’s foreign trade volume is conducted through Ziraat Bank,” Cakar said in the statement. “Our expanding global network plays a key role in facilitating this volume and boosting strategic cooperation.”
With nearly $200 billion in consolidated assets across domestic and international affiliates, Ziraat Bank remains one of the most active Turkish banking institutions abroad.
Cakar noted that the bank has obtained licenses in four new countries over the past two years, underscoring its leadership in international expansion among Turkish banks.
He emphasized Albania’s economic potential and its ongoing European Union accession process, expressing confidence that the new branch will enhance economic and financial cooperation between Türkiye and the Western Balkans.
“We believe our Tirana branch will strengthen trade and investment ties and reinforce our presence in the region,” he said.
The bank’s next expansion is likely to be Romania, as Cakar previously stated that an application for governmental approvals has already been submitted.
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