Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Saudi Arabia
SAUFCNODCHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,715,952.00
Year-over-Year Change
163.27%
Date Range
1/1/2009 - 1/1/2023
Summary
This economic trend measures the number of loan accounts held by households at commercial banks in Saudi Arabia. It provides insight into household borrowing and access to financial services in the Saudi 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
The Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Saudi Arabia trend tracks the total number of loan accounts opened by households at commercial banks in the country. This metric helps economists and policymakers assess household access to credit and gauge the development of the Saudi financial system.
Methodology
The data is collected through surveys of commercial banks operating in Saudi Arabia.
Historical Context
This trend is used to monitor household financial inclusion and inform policies aimed at expanding access to credit and other banking services.
Key Facts
- Saudi Arabia had over 7 million household loan accounts in 2021.
- Loan accounts have grown by 25% since 2016, indicating increased financial inclusion.
- Commercial banks are the primary source of household credit in Saudi Arabia.
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 Saudi Arabia. It provides insight into household access to credit and financial services.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for economists and policymakers to assess the development of the Saudi financial system and household financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected through surveys of commercial banks operating in Saudi Arabia.
Q: How is this trend used in economic policy?
A: This trend is used to monitor household access to credit and inform policies aimed at expanding financial inclusion in Saudi Arabia.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture all household loan accounts in the country.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Saudi Arabia (SAUFCNODCHNUM), retrieved from FRED.