Around 610 million lek in banking transactions by phone - BoA: In the first quarter, home banking was used more than in 2024
At the end of the first quarter, home banking transactions experienced a slight decline. The latest data from the Bank of Albania shows that payments made by citizens through banks' applications or online websites fell by 0.1% compared to February.
Despite fewer individuals and businesses conducting home banking transactions during March, payments made were higher than in February, but not higher than in January. According to official statistics, March recorded payments and money transfers totaling 196 million lek.
However, compared to 2024, the actions of individuals and businesses through home banking are significantly higher in 2025. Thus, home banking transactions in the first quarter of last year were around 2 million, while in January-March 2025 they reached 2.4 million.
The same trend is observed in the value of these transactions, which this year reached a figure of 610 million lek, an amount about 15.7% higher than in the previous year. For this year, the best balance in terms of home banking transactions was in January, which marked a record in terms of both the number and the amount of transactions.
Home banking refers to conducting transactions from home through bank applications, to make money transfers, pay taxes, electricity, water, telephone bills, police fines, credit card payments, and more, without the need to appear at physical bank branches.
Making transfers through mobile banking apps saves a lot more time than doing so in physical bank branches. Financial transactions can often be completed within minutes at home.
The increase in transactions carried out through bank applications or online websites is an indicator of the digitalization of banking services, while further increasing the financial inclusion of citizens, as well as the transparency of banking operations.
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