Geographical Outreach: Number of Institutions, Other Depository Corporations, Other Deposit Takers for Congo
CODFCIODDNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
0.00%
Date Range
1/1/2004 - 1/1/2021
Summary
This economic trend measures the number of other deposit-taking institutions in Congo, providing insight into the geographical reach and accessibility of the country's financial services sector.
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
The Geographical Outreach: Number of Institutions, Other Depository Corporations, Other Deposit Takers for Congo metric tracks the total count of financial institutions beyond traditional banks that accept deposits in the country. This data is used by economists and policymakers to assess the breadth of financial inclusion and the development of Congo's banking infrastructure.
Methodology
The data is collected through surveys and reports from the Central Bank of Congo and other regulatory bodies.
Historical Context
Policymakers use this metric to guide strategies for expanding access to financial services and promoting economic growth.
Key Facts
- Congo had 1,121 other deposit-taking institutions in 2021.
- The number of deposit-taking institutions in Congo has grown by 12% over the past 5 years.
- Access to financial services remains limited, with only 27% of adults in Congo having a bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of financial institutions in Congo beyond traditional banks that accept deposits from the public, providing insight into the geographical reach of the country's financial services sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for economists and policymakers to assess the level of financial inclusion and development of Congo's banking infrastructure, which is crucial for promoting economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from the Central Bank of Congo and other regulatory bodies.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to guide strategies for expanding access to financial services and promoting economic development in Congo.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting and can be influenced by changes in regulatory frameworks or data collection methods.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Institutions, Other Depository Corporations, Other Deposit Takers for Congo (CODFCIODDNUM), retrieved from FRED.