Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Colombia
COLFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80,507,991.00
Year-over-Year Change
91.05%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the total number of financial services deposit accounts at commercial banks in Colombia. It provides insight into the level of financial inclusion 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
The Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Colombia metric tracks the total number of deposit accounts held by individuals and businesses at commercial banks operating in Colombia. This data point is a key indicator of financial access and inclusion within the Colombian economy.
Methodology
The data is collected directly from commercial banks and financial institutions in Colombia.
Historical Context
Policymakers and analysts use this metric to assess the development of the Colombian financial sector and progress toward greater financial inclusion.
Key Facts
- Colombia had over 47 million deposit accounts in 2021.
- The number of accounts has grown by over 25% since 2015.
- Improving financial inclusion is a key policy goal in Colombia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at commercial banks in Colombia, providing insight into financial inclusion and access to banking services.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the development of Colombia's financial sector and progress toward greater financial inclusion, which is a key policy goal.
Q: How is this data collected or calculated?
A: The data is collected directly from commercial banks and financial institutions operating in Colombia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the state of financial inclusion and access to banking services in Colombia, informing policies aimed at promoting financial development.
Q: Are there update delays or limitations?
A: The data is updated regularly, though there may be some delays in reporting from financial institutions.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Colombia (COLFCAODCNUM), retrieved from FRED.