Rate of banks rendering mobile banking services in Azerbaijan

17:50 - 28.02.2024

February 28, Fineko/abc.az. As of January 1, 2024, 20 out of 23 banks in Azerbaijan rendered mobile banking services (1 service less than in 2022), ABC.AZ reports with reference to CBA’s annual Review of Digital Payments.

At that, Internet banking services were rendered by all banks in the country.

In 2023, 363.6 million transfers for 379.3 bn manats were made from the current accounts of Azerbaijani banks’ customers through paper media and digital banking (94% and 19.1% more than in 2022, respectively).

312.2 million transfers (85.9%) for 301.8 bn manats (79.6%) accounted for digital banking (2.3-fold and 23.7% more, respectively, than a year ago).

Last year, the cost of client transfers via Internet banking increased by 12% compared with the previous year and reached 227.7 bn manats, and through mobile banking services doubled, amounting to 46.2 bn manats.