Serbian central bank says armchair banking on the rise

Pixabay

In the course of the third quarter of 2023, 43,318 distance contracts were concluded between Serbian banks and financial services users, which is by 9.68 percent more than in the same quarter a year earlier, said the National Bank of Serbia (NBS).

“Of this number, 35,862 contracts were concluded electronically, up by 2.13 percent year-on-year, and 7,456 via video identification, marking a year-on-year increase of as much as 70.27 percent,” said the NBS.

Contracts concluded using video identification accounted for 17.2 percent and contracts concluded in another electronic manner for 82.8 percent of all distance contracts.

In terms of the type of financial product, citizens concluded distance contracts more in the third quarter of 2023 compared to the third quarter of 2022 in respect of the service of current account opening – by 98.16 percent (4,084 vs. 2,061), other services – by 29.69 percent (3,840 vs. 2,961), current account overdraft – by 19.54 percent (8,968 vs. 7,502) and demand/time savings – by 11.39 percent (3,511 vs. 3,152), while cash loans were contracted to a lesser extent – by 3.79 percent (22,915 vs. 23,818).