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Europe's banking population hits 409.46 million

Friday 22 May 2020 08:02 CET | News

Europe’s banking population has hit 409.46 million by the end of 2019, according to data gathered by Learnbonds.com.

From the data, about 77.74% of Europe is now part of the banking population. Furthermore, in terms of countries, 69.67 million German nationals have access to a bank account which represents a banking rate of 83.74% based on the country’s population of 83.2 million. 

In the second slot, there is the UK with a banking population of 54.74 million. The country has a population of 66.65 million people, translating to a rate of 83.19%.

France is third with a banking population of 51.54 million followed by Italy at 60.36 million with a rate of 79.09%. Spain occupies the fifth slot with a banking population of 36.92 million and a rate of 73.84%.

Malta with a population of 0.49 million has the least banked people at 0.36 million with a rate of 78.77%. Elsewhere Estonia has a banking population at 520 million with a rate of 81.95% based on its current population of 1.33 million. Notably, Luxembourg has the highest banking rate at 85.25% with a banking population of 0.52 million while Romania with a population of 19.41 million has the least rate at 48.27%.

Still, almost 23% of European residents have no bank accounts. All in all, the rising banking population in Europe is because owning a bank account is now part of social integration.

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Keywords: banking, mobile baking, online banking, banks, Europe, technology, digitalisation, study
Categories: Banking & Fintech | Payments General
Countries: Europe
This article is part of category

Banking & Fintech