Europe and Central Asia

The developing countries in Europe and Central Asia (ECA) have a total population of about 272 million people, of which 51% have an account at a formal financial institution. Usage of those accounts, however, is relatively low with just 12% indicating that they had taken a loan from a financial institution in the past year and 8% saving at a financial institution in the past year. Financial inclusion in the region is also highly heterogeneous. In Armenia, for example, the percent of adults with an account at a formal institution is 18% while in Serbia and Belarus over 70% of adults have an account at a financial institution.

Sources: Global Findex, Population Reference Bureau, World Bank