Bank For Business Sh.a. (Kosovo)

The Bank for Business obtained its license by the Banking and Payment Authority of Kosovo in March 2001 and began operations in April the same year under the name Bank for Private Business Sh.a. In 2005 it was renamed to Bank for Business and turned into a joint-stock company the following year. The lender provides a range of banking services and products to individuals as well as corporate clients. In August 2006 the Central Bank’s audit unveiled serious irregularities in BPB's files. Investigations into the case, which were carried out between October 2006 and May 2007, concluded with several arrests of bank’s employees and former members of the board of directors on suspicions of harmful deals and authorization misuse. The alleged misuse of funds cost the bank more than 10 million EUR (13.4 million USD) in losses. In 2011 the European Bank for Reconstruction and Development (EBRD) acquired a 10% stake in BPB for an undisclosed sum. The Kosovar lender attends its clients through a network of seven branches in Prishtina, Gjakova, Peja, Prizren, Ferizaj, Mitrovica and Gjilan, as well as over thirty sub-branches located throughout Kosovo.