Banks in Kosovo increase service fees - Up to 100%, despite making record profits
Some commercial banks in Kosovo have increased the prices of some of their services for their clients this year. Fees for cash withdrawals at branches, card maintenance and e-banking applications have also increased.
This increase comes months after banks made record profits in Kosovo. Central Bank data shows that the banking sector closed 2024 with a net profit of 182.1 million euros, the highest ever recorded in the country. Meanwhile, from January to September of this year, the net profit of commercial banks was 137.2 million euros.
For cash withdrawals in branches up to the value of 10 euros, citizens have paid 2 euros until this month. This service has been more expensive for them since November at one of the banks in the country, by 100%, to 4 euros.
Monthly maintenance for 'e-banking' individuals, last year was free. This year it will be 0.50 cents. Annual maintenance of 'Visa' and 'Master' cards from 15 euros has been raised to 18 by this bank.
Meanwhile, another bank has raised the fee from 10 cents to 0.20 cents for SMS notifications for 'online' purchases and receive an SMS with a verification code.
According to the CBK, fees are set by banks, which are obliged to disclose them transparently and inform their clients. After a comparative analysis conducted between commercial banks in Kosovo and the region, it turns out that some banking services in the country have higher fees than those in the region. The changes in fees have raised concerns among businesses.
Commercial banks in the country have the right to increase service fees under conditions when the costs of providing services change, when they make investments, or when services are substandard. However, these fees must be transparent.
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