Geographical Outreach: Number of Commercial Banks for El Salvador
SLVFCIODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.00
Year-over-Year Change
-7.69%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the total number of commercial banks operating in El Salvador. It is an important indicator of the financial sector's geographic reach and access to banking services for the population.
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 a country reflects the level of financial intermediation and the degree to which banking services are available across different regions. This metric is closely monitored by policymakers and analysts to assess the inclusiveness and penetration of the banking system.
Methodology
The data is collected and reported by the Central Reserve Bank of El Salvador.
Historical Context
The geographic distribution of banks is a key consideration for monetary and financial inclusion policies.
Key Facts
- El Salvador had 13 commercial banks as of the latest data.
- The number of banks has declined by 18% over the past decade.
- Over 70% of Salvadoran adults have a bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of commercial banks operating in El Salvador. It reflects the geographic reach and accessibility of banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: The number of banks is an important indicator of financial sector development and financial inclusion. It helps policymakers assess banking penetration and access to banking services across the population.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Reserve Bank of El Salvador.
Q: How is this trend used in economic policy?
A: The geographic distribution of banks is a key consideration for monetary and financial inclusion policies aimed at expanding access to banking services.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent changes in the number of banks.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Commercial Banks for El Salvador (SLVFCIODCNUM), retrieved from FRED.