Best bank for SMEs: Raiffeisen Bank
Raiffeisen Bank has been named the best bank for small and medium-sized enterprises in Albania. It has improved efficiency for SME clients and has also grown market share and performed strongly. It achieved 10% growth in SME clients last year, a period in which it increased assets assets by 30%.
The lender has shown the way for banking technology in the country through the digitalization of its lending services. During the awards period it achieved a market first by offering a fully digital business loan-application and automatic approval process. This initiative led to a 25% increase in digitally approved unsecured facilities in just one month. It reached another milestone when it introduced the first unsecured digital overdraft in the micro-segment.
Recognising the importance of sustainability, the bank also initiated environmental, social and governance-compliant loans for SME customers in 2022, aligning its services with its sustainable goals.