Online banking in Albania marks a 41% growth in the first part of 2017

Online banking has significantly increased in the first quarter of this year.

According to data issued from the Bank of Albania, the number of online transactions amounted to over 162 thousand for the first quarter of this year.

This figure is 41% higher compared with the first quarter last year.

The increase is significant even in the volume of transactions.

The value of the banking system during the first three months of the year amounted to nearly ALL 40 billion, 60% more compared with the same period of 2016.

The modernization of banking services and the increasing use of technology among Albanians is helping the extension of remote banking services.

Today 12 out of the 16 commercial banks in Albania offer online banking services.

According to the Bank of Albania, bank accounts accessible from the Internet at the end of last year were around 209 thousand.

It is estimated that about 86% of online-related accounts belong to individuals.

Most of the remote banking transactions is carried out by individuals, while business transactions dominate in volume, since they have higher values.

SCAN

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