Kosovo increases access to bank accounts by 31.8% according to the World Bank’s “Findex” report

Kosovo has achieved significant progress in the banking sector as access to bank accounts has increased by 31.8% from 2011 to 2021, according to the latest report of the Financial Inclusion Index (“Findex”) by the World Bank. This excellent result is a testament to the significant efforts of the banking sector in Kosovo and puts us on the right track to achieve even greater advancements in terms of access to bank accounts.

According to the World Bank’s “Findex” report for 2021, 58% of adults in Kosovo have access to bank accounts, marking a substantial increase from the 44% reported in 2011. This continuous growth demonstrates that the banking sector is making significant progress in improving access to financial services, including access to bank accounts.

The banking sector in Kosovo has shown great commitment in expanding the range of services offered and raising awareness about the importance of using bank accounts. These efforts are key to ensuring that the citizens of Kosovo have the opportunity to benefit from the advantages of accessing bank accounts, including security, facilitating financial transactions, and the ability to plan for the future.

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It is worth noting that a crucial prerequisite for high access to bank accounts is maintaining a low unemployment rate, as high unemployment can be a major obstacle for individuals to access bank accounts.

One of the main goals of the banking sector in Kosovo is to achieve comprehensive financial inclusion and improve the quality of services in line with the demands of modern banking.

The banking sector in Kosovo remains stable, liquid, well-capitalized, and continues to finance businesses and household economies as one of the largest contributors to the country’s economic growth.