Annual Report 2010 03 August 2011 - Banka Qendrore e ...

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Annual Report 2010 CBK deposits with over 67% (growth of 7% compared to the previous year), while deposits of enterprises had a share of 27 %. In spite of challenges faced by the Central Bank of the Republic of Kosovo, it managed to maintain the country’s financial stability and it was always proactive in taking numerous measures to ensure a financial stability. The frequency of on-site and off-site examinations has also increased in 2010, in order to closely follow up activities of all financial institutions operating in Kosovo and fulfilling therein one of the most important CBK functions, namely the maintenance of country’s financial stability. Prof. Dr. Gazmend Luboteni Chairman of the Central Bank Board 12 |
CBK Annual Report 2010 Governor’s Speech Kosovo’s economy in 2010 continued to grow, based mainly on the growth of consumption and investments. Improvements in the global economy had a significant impact on the growth of Kosovo's exports and received remittances. Inflationary pressures at the global level were also reflected in the Kosovo’s economy, due to the high dependency of our economy on imports. Despite the increase of exports, trade deficit remains very high and calls for finding a more sustainable model of growth and economic development for Kosovo. The country's financial sector continued the increasing trend. Main financial soundness indicators suggest a high level of stability for the Kosovo’s banking system. Reaching at 59.7 percent of GDP, banking system assets were among the main contributors to the financing of consumption and investments in the country. Although still high, the degree of the banking system concentration continued its downward trend. At the same time, the insurance industry marked a reduction of tariffs for border insurance policies and an increase of the claims reimbursement level. Kosovo Pension Savings Trust marked a price increase per share units and better return on investments. In close cooperation with the Ministry of Finance, concrete steps were taken in the creation of a modern infrastructure for the securities market. Besides providing stability for the financial sector, the CBK continued to improve the quality of its services to authorities, financial community and the public. It has improved the quality of supply with euro banknotes and coins and it was completed the full electronization of payment orders for the major CBK customers. Also, the volume and value of interbank payments increased, while the National Payments Council became fully operational. The investment of the CBK assets is made under high security, adequate liquidity and reasonable return on investments. Within the project on the development of the business environment, the Credit Registry started the project of upgrading the credit information, which is expected to result in a reduction of credit risk and consequently of loan interest rates. In 2010, the Assembly of Kosovo approved the new Law on the Central Bank of the Republic of Kosovo, with more duties and responsibilities for the CBK in providing financial and macroeconomic stability of the country. This year was also marked by the approval of the Law on Deposit Insurance System and initiation for amendments and drafting of other laws relevant to the financial sector (Law on banks, microfinance institutions and non-bank financial institutions, the Law on Compulsory Third Party Liability Insurance, the Law on payment systems, etc.), expected to be approved during 2011. The upgrading of the legal framework of the financial sector is in line with the efforts aimed at the enhancement of the business environment and the generation of new investments by foreign as well as domestic investors. In the field of statistics, for the first time was started with the reporting of balance of payments statistics to the IMF on quarterly basis, while in the field of economic and financial analysis should be emphasized the compilation of 'stress test' for the banking system, monthly compilation of early warning indicators as well as the compilation and publication of the first issue of the Financial Stability Report for Kosovo. Research work of the CBK employees was awarded for the second time with the prestigious "Olga Radzyner" award for young researchers. All these prove the high competence of the CBK employees in the communication of our work to the domestic and international institutions and public. | 13
Page 1 and 2: BANKA QENDRORE E REPUBLIKËS SË KO
Page 3 and 4: CBK Annual Report 2010 BANKA QENDRO
Page 5 and 6: CBK Annual Report 2010 CONTENTS Cov
Page 7 and 8: CBK Annual Report 2010 LIST OF ABBR
Page 9 and 10: CBK Annual Report 2010 LIST OF FIGU
Page 11 and 12: CBK Annual Report 2010 83. Number o
Page 13: CBK Annual Report 2010 Cover Letter
Page 17 and 18: CBK Annual Report 2010 Central Bank
Page 19 and 20: CBK Annual Report 2010 Organization
Page 21 and 22: CBK Annual Report 2010 1. Executive
Page 23 and 24: CBK Annual Report 2010 2. External
Page 25 and 26: CBK Annual Report 2010 In the end o
Page 27 and 28: CBK Annual Report 2010 3. Kosovo Ec
Page 29 and 30: CBK Annual Report 2010 On the other
Page 31 and 32: CBK Annual Report 2010 marking an a
Page 33 and 34: CBK Annual Report 2010 Financial se
Page 35 and 36: CBK Annual Report 2010 securities c
Page 37 and 38: CBK Annual Report 2010 Regarding th
Page 39 and 40: CBK Annual Report 2010 account for
Page 41 and 42: CBK Annual Report 2010 income. Inte
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Page 49 and 50: CBK Annual Report 2010 37.2 percent
Page 51 and 52: CBK Annual Report 2010 3.4.1 Curren
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Page 55 and 56: CBK Annual Report 2010 In December
Page 57 and 58: CBK Annual Report 2010 3.4.2.1 Fore
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CBK Annual Report 2010 evidenced a
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CBK Annual Report 2010 capital adeq
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CBK Annual Report 2010 sustainabili
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CBK Annual Report 2010 Table 20. Li
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CBK Annual Report 2010 under Trust
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CBK Annual Report 2010 Figure 52. E
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CBK Annual Report 2010 Regarding me
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CBK Annual Report 2010 Figure 64. V
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CBK Annual Report 2010 27.12 percen
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CBK Annual Report 2010 In 2010, an
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CBK Annual Report 2010 General deve
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CBK Annual Report 2010 Figure 82. N
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CBK Annual Report 2010 was managed
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CBK Annual Report 2010 Table 23. De
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CBK Annual Report 2010 new componen
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CBK Annual Report 2010 This seminar
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CBK Annual Report 2010 8. Financial
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Central Bank of the Republic of Kos
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CBK Annual Report 2010 9. Statistic
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CBK Annual Report 2010 1.1. Financi
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CBK Annual Report 2010 Table 3.2. C
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CBK Annual Report 2010 Table 5.2. O
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CBK Annual Report 2010 References B
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