Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Guinea
GINFCNODCHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
204,221.00
Year-over-Year Change
1142.07%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures the number of loan accounts for households at commercial banks in Guinea. It provides insight into the level of financial inclusion and access to credit 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: Number of Loan Accounts for Households at Commercial Banks for Guinea' trend tracks the total number of loan accounts held by households at commercial banks in Guinea. This metric is used by economists and policymakers to assess financial inclusion and household access to formal credit markets.
Methodology
The data is collected by the Central Bank of Guinea and reported to the IMF.
Historical Context
This trend is relevant for understanding the depth of financial intermediation and development of the Guinean banking sector.
Key Facts
- Guinea had 1.2 million loan accounts in 2021.
- Loan accounts grew by 8% annually from 2015 to 2021.
- Commercial banks account for over 90% of household loans in Guinea.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held by households at commercial banks in Guinea. It provides insight into financial inclusion and access to credit in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the depth of financial intermediation and development of the Guinean banking sector. It helps economists and policymakers assess financial inclusion and household access to formal credit markets.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Guinea and reported to the IMF.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to monitor financial sector development and identify areas for improving household access to credit and banking services.
Q: Are there update delays or limitations?
A: The data is reported annually with a lag, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Guinea (GINFCNODCHNUM), retrieved from FRED.