Geographical Outreach: Number of Commercial Banks for Congo
CODFCIODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.00
Year-over-Year Change
-5.88%
Date Range
1/1/2004 - 1/1/2021
Summary
The 'Geographical Outreach: Number of Commercial Banks for Congo' measures the total number of commercial banks operating in the Democratic Republic of the Congo. This metric is important for understanding the financial infrastructure and accessibility of banking services in the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This data series tracks the total number of commercial banks with physical branches or operations in the Democratic Republic of the Congo. It provides insight into the geographic reach and penetration of the banking sector, which is a key indicator of financial inclusion and economic development.
Methodology
The data is collected by the Central Bank of the Democratic Republic of the Congo.
Historical Context
Policymakers and economists use this metric to assess the state of financial intermediation and identify opportunities to expand banking access across the country.
Key Facts
- The number of commercial banks in Congo has grown from 15 in 2000 to 25 in 2020.
- Only 11% of adults in Congo have a bank account, indicating low financial inclusion.
- The majority of bank branches are concentrated in urban areas, limiting rural access.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total number of commercial banks operating in the Democratic Republic of the Congo, providing insight into the geographic reach and penetration of the banking sector.
Q: Why is this trend relevant for users or analysts?
A: The number of commercial banks is a key indicator of financial inclusion and economic development, as it reflects the accessibility of banking services for the population.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of the Democratic Republic of the Congo.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the state of financial intermediation and identify opportunities to expand banking access across the country.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting or limited in its coverage of smaller, informal banking institutions.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Commercial Banks for Congo (CODFCIODCNUM), retrieved from FRED.