Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Congo
CODFCNODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.58
Year-over-Year Change
786.15%
Date Range
1/1/2010 - 1/1/2018
Summary
This economic trend measures the number of loan accounts with commercial banks per 1,000 adults in the Republic of the Congo. It provides insight into the use and access to formal financial 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
The 'Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Congo' series tracks the ratio of commercial bank loan accounts to the adult population. This metric is used to assess financial inclusion and the depth of banking penetration within the Congolese economy.
Methodology
The data is collected by the World Bank through surveys and national statistics.
Historical Context
This indicator is relevant for policymakers and economists analyzing financial development and access to credit in the Republic of the Congo.
Key Facts
- The latest value is 18.58 loan accounts per 1,000 adults (2017).
- Congo has a low level of financial inclusion compared to other African countries.
- Access to formal banking services remains a challenge for much of the population.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts held with commercial banks per 1,000 adults in the Republic of the Congo.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the depth of financial inclusion and access to credit within the Congolese economy, which is important for policymakers and economists analyzing economic development.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank through surveys and national statistics.
Q: How is this trend used in economic policy?
A: Policymakers and institutions use this indicator to assess financial development and design policies to improve access to formal banking services in the Republic of the Congo.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture the most recent changes in financial inclusion.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Loan Accounts with Commercial Banks Per 1,000 Adults for Congo (CODFCNODCANUM), retrieved from FRED.