Use of Financial Services: Number of Loan Accounts at Commercial Banks for Madagascar
MDGFCNODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,762,836.00
Year-over-Year Change
960.20%
Date Range
1/1/2004 - 1/1/2023
Summary
The 'Use of Financial Services: Number of Loan Accounts at Commercial Banks for Madagascar' series tracks the total number of loan accounts held by individuals and businesses at commercial banks in Madagascar. This metric provides insight into the level of financial inclusion and access to credit within the Malagasy economy.
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 series, published by the U.S. Federal Reserve, measures the volume of loan accounts maintained at commercial banks in Madagascar. It serves as an indicator of the breadth of financial services utilization and the degree to which the population and enterprises can access formal credit channels.
Methodology
The data is collected through surveys of commercial banks operating in Madagascar.
Historical Context
Policymakers and analysts use this metric to evaluate financial sector development and the efficacy of initiatives aimed at promoting greater financial inclusion.
Key Facts
- Madagascar has a population of over 27 million people.
- The banking sector in Madagascar is dominated by a small number of large commercial banks.
- Only about 15% of the adult population in Madagascar has a bank account.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total number of loan accounts held by individuals and businesses at commercial banks in Madagascar. It provides insight into the level of financial inclusion and access to credit within the Malagasy economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by policymakers and analysts to evaluate financial sector development and the efficacy of initiatives aimed at promoting greater financial inclusion in Madagascar.
Q: How is this data collected or calculated?
A: The data is collected through surveys of commercial banks operating in Madagascar.
Q: How is this trend used in economic policy?
A: Policymakers and institutions use this metric to assess the progress of financial inclusion efforts and inform policies designed to improve access to credit and other banking services in Madagascar.
Q: Are there update delays or limitations?
A: The data may be subject to periodic update delays, and the accuracy of the metric may be limited by the reporting practices of commercial banks in Madagascar.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Commercial Banks for Madagascar (MDGFCNODCNUM), retrieved from FRED.