Geographical Outreach: Number of Institutions, Other Depository Corporations, Deposit Taking Microfinance Institutions (MFIs) for Guinea
GINFCIODMFNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.00
Year-over-Year Change
500.00%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of institutions, including other depository corporations and deposit-taking microfinance institutions (MFIs), that provide financial services in Guinea. It is an important indicator of financial inclusion and access to banking for the population.
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, Deposit Taking Microfinance Institutions (MFIs) for Guinea metric tracks the total count of financial institutions operating in the country. It provides insight into the breadth of the financial system and the availability of banking services for consumers and businesses.
Methodology
The data is collected and reported by the Central Bank of Guinea.
Historical Context
Policymakers and analysts use this metric to evaluate financial sector development and identify opportunities to expand access to banking and credit.
Key Facts
- The number of institutions has grown from 24 in 2010 to 38 in 2020.
- Microfinance institutions account for over 50% of the total number of financial providers.
- Rural areas remain underserved compared to urban centers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of financial institutions, including banks and deposit-taking microfinance providers, operating in Guinea.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing financial inclusion and the breadth of the banking and microfinance system in Guinea.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Guinea.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate financial sector development and identify opportunities to expand access to banking and credit.
Q: Are there update delays or limitations?
A: The data is published annually with a short delay, and may not capture all informal or unregistered financial providers.
Related Trends
Geographical Outreach: Number of Branches, Excluding Headquarters, for Deposit Taking Microfinance Institutions (MFIs) for Guinea
GINFCBODMFNUM
Use of Financial Services, Assets: Outstanding Loans to Small and Medium Enterprises at Credit Unions and Financial Cooperatives for Guinea
GINFCSODUSXDC
Use of Financial Services, Liabilities: Outstanding Deposits at Deposit Taking Microfinance Institutions (MFIs) for Guinea
GINFCLODMFXDC
Use of Financial Services Number of Borrowers, Other Depository Corporations, Deposit Taking Microfinance Institutions (MFIs), of which: Households, Persons for Guinea
GINFCRODMFHPENUM
Geographical Outreach: Number of Automated Teller Machines (ATMs) in 3 Largest Cities for Guinea
GINFCACLNUM
Use of Financial Services Borrowers: Small and Medium Enterprises Borrowing from Commercial Banks for Guinea
GINFCRODCSPENUM
Citation
U.S. Federal Reserve, Geographical Outreach: Number of Institutions, Other Depository Corporations, Deposit Taking Microfinance Institutions (MFIs) for Guinea (GINFCIODMFNUM), retrieved from FRED.