Best bank: Raiffeisen Bank Kosovo
Raiffeisen Bank Kosovo is the country’s best bank after a year in which it introduced of a series of new and enhanced products across its banking businesses, materially grew its client base and generated a record net profit.
Standouts among the bank’s new and enhanced products and services include the launch of capital guaranteed certificates – an investment product designed for affluent customers – an upgrade to its mobile banking platform, Raiffeisen Plus, which provides corporate clients with digital interactive access to financing products for the first time, and the introduction of Kosovo’s first trade finance platform.
Together, these developments helped expand the bank’s client base by 31,000 to around 321,000 at the end of last year and boosted banking engagement and activity.
Customers’ use of the mobile banking app increased 20% versus 2022, while the value of personal loans made through its RaiKesh lending platform rose from €1.5 million to €13 million.
Overall, lending growth – an 11% year-on-year increase to €925 million – at higher rates was a big driver of Raiffeisen’s €30.4 million in net profit last year, an increase of 3.4% on 2022.
Within this, the bank’s small and medium-sized enterprise loan portfolio expanded by about €11 million, and new environmental, social and governance-linked financing hit €80 million.
Best digital bank: Banka Kombetare Tregtare
Banka Kombetare Tregtare saw strong user growth and engagement last year.
There was a 22% increase in digital banking users to 99,723. The number of logins rose by approximately 38% to 4.75 million, while the number of digital loans almost doubled. Digital transactions accounted for 88% of overall transactions.
The bank made significant upgrades to its app, including a revamped interface. New functionalities include QR code electricity payments, bill-sharing, comprehensive budget planning tools, traffic ticket payments and cardless ATM withdrawals.
Banka Kombetare Tregtare also rolled out a new external real estate and vehicle listing platform, Dora e Pare. It offers a simplified loan application process for these assets.
Best bank for ESG: ProCredit Bank
ProCredit Bank continued to focus on green initiatives and carbon reduction measures in 2023. The bank’s green loan portfolio reached €115 million, accounting for 16% of its total loans.
It has developed an internal methodology to calculate CO₂ avoidance achieved through its lending activities. In 2023 alone, it calculated an avoidance of 10,200 tonnes of CO₂ using this metric.
It also commissioned ProEnergy, its three-megawatt peak solar park in Lipjan, Kosovo. This park is projected to avoid nearly 3,500 tonnes of CO₂ emissions annually, while supplying energy to nearly 500 households.
ProCredit Bank also recorded a 61% increase in electric and plug-in hybrid cars in its fleet and a 63% decrease in indoor water consumption per employee.
Its efforts to support sustainable mobility included installing 30 electric vehicle (EV) chargers for free public use. This initiative has also facilitated the financing of approximately 223 EVs in the country –43% of Kosovo’s total fleet.
Best bank for corporates: Raiffeisen Bank Kosovo
Raiffeisen Bank Kosovo increased its corporate client base in Kosovo by 4.48% to 501 in 2023.
New digital innovations include its eFinance platform, which allows corporate customers to submit financing applications. It also provides a real-time overview of credit limits and allows digital document exchange with relationship managers.
Significant progress was also made in cash management. The introduction of Swift GPI and Future Cash Management International improved services for international customers. The bank also undertook a regional rollout of cash collection services and source of funds declaration for compliance and transparency.
It also introduced its first digital platform for trade finance.
