Geographical Outreach: Number of Commercial Banks for Congo
COGFCIODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.00
Year-over-Year Change
400.00%
Date Range
1/1/2004 - 1/1/2022
Summary
The 'Geographical Outreach: Number of Commercial Banks for Congo' metric tracks the total number of commercial banks operating in the Democratic Republic of the Congo. This measure is important for understanding financial sector development and access to 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 represents the total count of registered commercial banks with brick-and-mortar branches or operations in the Democratic Republic of the Congo. It is a key indicator of financial inclusion and the geographic spread of the formal banking system within the country.
Methodology
The data is collected and reported by the Central Bank of Congo.
Historical Context
Policymakers and economists use this metric to gauge the level of financial intermediation and overall banking sector development in the DRC.
Key Facts
- There were 24 commercial banks in the DRC as of 2021.
- The number of commercial banks has grown by over 50% since 2010.
- Only about 27% of adults in the DRC have a bank account.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of registered commercial banks operating brick-and-mortar branches or locations in the Democratic Republic of the Congo.
Q: Why is this trend relevant for users or analysts?
A: The number of commercial banks is a key indicator of financial sector development and access to formal banking services in the country, which is important for economic growth and financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Congo.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to gauge the level of financial intermediation and overall banking sector development in the Democratic Republic of the Congo.
Q: Are there update delays or limitations?
A: There may be lags in reporting or updates to this data series from the source.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Commercial Banks for Congo (COGFCIODCNUM), retrieved from FRED.