Geographical Outreach: Number of Commercial Banks for Saudi Arabia
SAUFCIODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.00
Year-over-Year Change
33.33%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of commercial banks operating in Saudi Arabia. It provides insight into the growth and accessibility of the Saudi banking sector.
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 number of commercial banks in Saudi Arabia is an important indicator of the country's financial development and economic stability. It reflects the depth and breadth of the banking system, which is crucial for facilitating investment, lending, and other financial services.
Methodology
The data is collected by the Saudi Arabian Monetary Authority (SAMA) through its ongoing monitoring of the commercial banking industry.
Historical Context
Policymakers and economists use this trend to assess the Saudi financial system's capacity to support economic growth and private sector activity.
Key Facts
- Saudi Arabia had 26 commercial banks as of 2021.
- The number of commercial banks in Saudi Arabia has grown by 30% over the past decade.
- The Saudi banking sector accounts for over 80% of the country's total financial assets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of commercial banks operating in Saudi Arabia, providing insight into the depth and accessibility of the country's banking sector.
Q: Why is this trend relevant for users or analysts?
A: The number of commercial banks is a key indicator of financial development and economic stability in Saudi Arabia, which is crucial for supporting investment, lending, and other financial services.
Q: How is this data collected or calculated?
A: The data is collected by the Saudi Arabian Monetary Authority (SAMA) through its ongoing monitoring of the commercial banking industry.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the capacity of the Saudi financial system to support economic growth and private sector activity.
Q: Are there update delays or limitations?
A: The data is released regularly by SAMA, with minimal update delays. However, the trend may not capture all informal or non-traditional financial activities in the country.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Commercial Banks for Saudi Arabia (SAUFCIODCNUM), retrieved from FRED.