Use of Financial Services: Number of Depositors at Commercial Banks for Solomon Islands
SLBFCDODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
211,571.00
Year-over-Year Change
114.58%
Date Range
1/1/2012 - 1/1/2023
Summary
This economic trend measures the number of depositors at commercial banks in the Solomon Islands. It provides insights into the level of financial inclusion and access to banking services 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 number of depositors at commercial banks is an important indicator of financial development and the reach of the banking system. It reflects the level of public trust and participation in the formal financial sector, which is crucial for economic growth and stability.
Methodology
The data is collected by the Central Bank of Solomon Islands through its regulatory oversight of the commercial banking sector.
Historical Context
This trend is used by policymakers, economists, and financial institutions to assess the state of financial inclusion and inform policies aimed at expanding access to banking services.
Key Facts
- The number of depositors at commercial banks in Solomon Islands was 229,876 as of the latest data.
- The trend has shown steady growth over the past decade, indicating improving financial inclusion.
- Solomon Islands has a population of around 700,000, so the depositor count represents a significant portion of the adult population.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of depositors at commercial banks in the Solomon Islands, providing insights into the level of financial inclusion and access to banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: The number of depositors is an important indicator of financial development and the reach of the banking system, reflecting the level of public trust and participation in the formal financial sector, which is crucial for economic growth and stability.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Solomon Islands through its regulatory oversight of the commercial banking sector.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and financial institutions to assess the state of financial inclusion and inform policies aimed at expanding access to banking services.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Solomon Islands, but there may be occasional delays in reporting or limitations in the underlying data collection.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Commercial Banks for Solomon Islands (SLBFCDODCPENUM), retrieved from FRED.